Evaxion Biotech registers 769,000 ADSs for selling shareholder

Evaxion Biotech (NASDAQ: EVAX) filed a prospectus for the sale of up to 769,000 American Depositary Shares by a selling shareholder, according to a company disclosure.

The ADSs represent 38,450,000 ordinary shares with DKK 0.25 nominal value per share. These shares are issuable upon exercise of warrants at an exercise price of DKK 0.25 per ordinary share, which were issued as part of a private placement under a debt settlement agreement that closed on July 11, 2025.

The company will not receive proceeds from the ADS sales by the selling shareholder. However, Evaxion received EUR 3,500,000 in partial debt cancellation in exchange for issuing the warrants and may receive up to DKK 9,612,500 in aggregate gross proceeds if the warrants are exercised, equivalent to approximately $1,498,378.

The warrants themselves are not being offered under this prospectus. The selling shareholder may dispose of the ADSs through various methods and at varying prices, according to the filing.

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