Shares of Novavax tumble as the vaccine maker plans to sell up to $125 million in stock, and offer $125 million of that to shareholders. Shares of Novavax have lost about $5 million since filing in the first quarter, according to a Thomson Reuters/Ipsos news release. The market cap of Novavax comes as it has been reported that the company’s stock price has dipped as it talks to sell it to a consortium of investors holding an estimated $4.5 billion in bonds and bonds-related stock for about $4 million during the first half of the year.
The Novavax Corp. is currently valued at a $7.2 billion price tag, while Novavax’s share price is at $2.5 billion at its New York headquarters. As of Novavax’s filing, the company has a net worth of $1.4 billion.