HilleVax, Inc.: HilleVax Announces Pricing of Upsized Initial Public Offering

BOSTON, April 28, 2022 (GLOBE NEWSWIRE) -- HilleVax, Inc. (Nasdaq: HLVX), a clinical-stage biopharmaceutical company focused on developing and commercializing novel vaccines, today announced the pricing of its upsized initial public offering of 11,765,000 shares of common stock at an initial public offering price of $17.00 per share. All of the shares are being offered by HilleVax. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $200.0 million. The shares are expected to begin trading on the Nasdaq Global Select Market on April 29, 2022 under the ticker symbol "HLVX." The offering is expected to close on May 3, 2022, subject to the satisfaction of customary closing conditions. In addition, HilleVax has granted the underwriters a 30-day option to purchase up to an additional 1,764,750 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

J.P. Morgan, SVB Securities, Stifel and Guggenheim Securities are acting as joint book-running managers for the offering.

Registration statements relating to the offering have been filed with the Securities and Exchange Commission and became effective on April 28, 2022. The offering will be made only by means of a prospectus. When available, copies of the final prospectus may be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at [phone], or by email at [e-mail]; SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at [phone], ext. 6105, or by email at [e-mail]; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at [phone], or by email at [e-mail]; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison, 8th Floor, New York, NY 10017, by telephone at [phone], or by email at [e-mail].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About HilleVax

HilleVax is a clinical-stage biopharmaceutical company focused on developing and commercializing novel vaccines. Its initial program, HIL-214, is a virus-like particle (VLP) based vaccine candidate in development for the prevention of moderate-to-severe acute gastroenteritis (AGE) caused by norovirus infection.

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