Vaxxinity (VAXX)

Vaxxinity (VAXX)

Closed: Nov. 2021

About this raise

Vaxxinity, with an expected public market valuation of approximately $2 billion, will go public November 11, 2021. Vaxxinity is developing vaccine therapies for chronic diseases using synthetic peptides. Mei Mei Hu, Lou Reese, and Peter Diamandis founded Vaxxinity with the original idea of developing a Alzheimer's vaccine. The company will trade under the ticker "VAXX" on the Nasdaq and the company is offering over 6 million shares at a price range of $14 - $16.

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Investment Overview

Funding data not publicly available

Deal Terms

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Stage
IPO Stage
Platform
Robinhood
IPO Date
11/11/2021
Method of Going Public
IPO
Expected Public Exchange
Nasdaq
Price Range
$14 - $16
Security Type

Equity - Common

Series

Series A

SEC Filing Type

S-1    Open SEC Filing

IPO Valuation

$2B

IPO Lead Underwriter

BofA Securities, Jefferies, Evercore

# of Acquisitions

0

Company & Team

Company

Year Founded
2021
Industry
Healthcare & Pharmaceuticals
Tech Sector
Biotech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
High
Location
Dallas, Texas
Business Type
Growth
Company Website
Visit Website

Team

Employees
70
Prior Founder Exits?
No
Founder Name
Mei Mei Hu
Title
CEO
Founder Name
Louis Reese
Title
Executive Chairman of the Board

Funding data not publicly available

Financials

 Revenue
$557,000
 Cash on Hand
$0
View Detailed Financials Expand

Income Statement

Revenue

$557,000

Operating Expenses

Research/Technology & Development

$20,570,000

Sales & Marketing

$0

General & Administrative

$12,217,000

Total Operating Expenses

$32,787,000

Operating Income

$-32,282,000

Other Income, Net

$0

Income (Loss) Before Provision For (Benefit From) Income Taxes

$-39,957,000

Provision For (Benefit From) Income Taxes

$0
Net Income (Loss)

$-39,957,000

 

Net Income (Loss) Attributable to Common Stockholders:

Basic

$0.00

Diluted

$0.00

Net Income (Loss) Per Share Attributable to Common Stockholders:

Basic

$-0.61

Diluted

$-0.61

Weighted-Average Shares of Common Stock Used For Pro Forma:

Basic

65,638,946

Diluted

65,638,946

Balance Sheet - Assets

Current Assets

Cash and Cash Equivalents

$31,143,000

Accounts Receivable

$26,000

Total Current Assets

$35,674,000

Property and Equipment, Net

$12,158,000

Goodwill

$0

Intangible Assets, Net

$0

Restricted Cash

$55,000

Other Assets

$0
Total Assets

$50,141,000

Balance Sheet - Liabilities

Current Liabilities

Accounts Payable

$1,017,000

Accrued Expenses

$610,000

Other Current Liabilities

$0

Total Current Liabilities

$37,224,000
Total Liabilities

$75,041,000

Commitments and Contingencies

Convertible Preferred Stock

$10,383,000

Stockholders' (deficit) Equity

Common Stock

$272,000

Additional Paid In Capital

$4,682,000

Accumulated Other Comprehensive Income (Loss)

$-92,306,000
Total Stockholders' (Deficit) Equity

$-87,375,000

Statements of Cash Flows

Cash Flows from Operating Activites

Net Cash Provided By (Used In) Operating Activities

$-33,910,000

Cash Flows from Investing Activites

Net Cash Provided By (Used In) Investing Activities

$-1,477,000

Cash Flows from Financing Activites

Net Cash Provided By (Used In) Financing Activities

$66,109,000
Total Cash, Cash Equivalents, and Restricted Cash

$0
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Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
11/11/2021 Robinhood $2,000,000,000 - Equity - Common Public S-1
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Vaxxinity IPO 2021: Price, Dates, and All You Need to Know
Platform: Robinhood
Security Type: Equity - Common
Valuation: $2,000,000,000

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