VaxGen, Inc. Files for Initial Public Offering
Brisbane, CA - May 10, 1999 - VaxGen, Inc. today announced that it filed a registration statement for its initial public offering with the U.S. Securities and Exchange Commission on May 7, 1999. VaxGen plans to sell 3.1 million shares of its common stock to the public at an anticipated price range of $13 to $15 per share. All of these
shares will be offered by VaxGen. Application has been made to have the shares traded on the Nasdaq National Market. Prudential Securities is acting as lead underwriter. Punk, Ziegel & Company is acting as the co-managing underwriter.
VaxGen, headquartered in Brisbane, CA, is developing preventive vaccines for worldwide use against HIV. VaxGen is currently conducting two large-scale Phase III clinical trials of its AIDSVAX vaccines, one in North America and one in Thailand.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Copies of the prospectus in relation to the offering, when available, may be obtained from Prudential Securities, 111 8th Avenue, 5th floor, New York, NY, 10011, (212) 776-8190, and from Punk, Ziegel & Company, 520 Madison Avenue, 7th Floor, New York, NY, 10022, (212) 308-9494. AIDSVAX is a registered trademark of VaxGen.
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Contact:
Nicole Lynch
VaxGen, Inc.
(650) 624-1065
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