Virax Biolabs Group Ltd (VRAX)

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Virax Biolabs Group Limited Announces $3.8M Private Placement Agreement
Virax Biolabs Group Limited ("Virax" or the "Company") (NASDAQ:VRAX), an innovative biotechnology company focused on the prevention, detection, and diagnosis of viral diseases, announced today that it has entered into a definitive agreement with a leading healthcare-focused institutional investor, pursuant to which the Company agreed to sell 2,330,000 shares of ordinary shares (or ordinary shares equivalents in lieu thereof) at a gross purchase price of $1.65 per share. Additionally, Virax has agreed to issue to the investor unregistered warrants to purchase up to 3,495,000 shares of ordinary shares (the "Ordinary Warrants"). The Ordinary Warrants have an exercise price of $1.73 per share, will become exercisable in six months after their date of issuance and will expire five and a half years from their date of issuance.