Vaxart Terminates Material Definitive Agreement

TL;DR

Vaxart just terminated a major deal. Big changes ahead?

AI Summary

Vaxart, Inc. announced on October 8, 2024, the termination of a material definitive agreement. The filing does not specify the other party involved in the agreement or the nature of the agreement, but it indicates a significant change in a contractual relationship for the company.

Why It Matters

The termination of a material definitive agreement can significantly impact a company's operations, partnerships, or financial standing, requiring investors to understand the implications.

Risk Assessment

Risk Level: medium — Termination of a material definitive agreement can signal underlying issues or strategic shifts that may pose risks to the company's future performance.

Key Players & Entities

• Vaxart, Inc. (company) — Registrant
• October 8, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• 001-35285 (identifier) — Commission File Number
• 59-1212264 (identifier) — IRS Employer Identification No.
• 170 Harbor Way, Suite 300 (address) — Principal executive offices
• South San Francisco (location) — City of principal executive offices
• California (location) — State of principal executive offices
• 94080 (zip_code) — Zip code of principal executive offices

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock , $0.0001 par value VXRT The Nasdaq Capital M
• $28.6 million — gregate gross proceeds of approximately $28.6 million pursuant to the Sales Agreement. The Co

Filing Documents

• vxrt20241007_8k.htm (8-K) — 24KB
• 0001437749-24-030878.txt ( ) — 152KB
• vxrt-20241008.xsd (EX-101.SCH) — 3KB
• vxrt-20241008_def.xml (EX-101.DEF) — 11KB
• vxrt-20241008_lab.xml (EX-101.LAB) — 15KB
• vxrt-20241008_pre.xml (EX-101.PRE) — 11KB
• vxrt20241007_8k_htm.xml (XML) — 3KB

02

Item 1.02. Termination of a Material Definitive Agreement. As previously disclosed, Vaxart, Inc. (the "Company") is a party to the Controlled Equity Offering SM Sales Agreement (the "Sales Agreement"), dated September 15, 2021, with Cantor Fitzgerald & Co. and B. Riley Securities, Inc. (together, the "Sales Agents"), pursuant to which the Company was able sell shares of common stock in sales deemed to be an "at the market offering" as defined in Rule 415 promulgated under the Securities Act of 1933, as amended. On October 8, 2024, the Company provided notice to the Sales Agents to terminate the Sales Agreement, effective October 18, 2024. The Company will not incur any termination penalties as a result of the termination of the Sales Agreement. Following such termination, the Company may not offer or sell any additional shares of its common stock under the Sales Agreement or the related prospectus and prospectus supplement. From September 15, 2021 to October 8, 2024, the Company sold 17,501,561 shares of common stock for aggregate gross proceeds of approximately $28.6 million pursuant to the Sales Agreement. The Company does not intend to issue or sell any additional shares of common stock under the Sales Agreement prior to its termination. The foregoing description of the Sales Agreement is not complete and is qualified in its entirety by reference to the full text of the Sales Agreement, a copy of which was filed as Exhibit 1.1 to the Company's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on September 16, 2021, and incorporated herein by reference.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VAXART, INC. Dated: October 8, 2024 By: /s/ Steven Lo Steven Lo President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR