Virpax Pharmaceuticals (VRPX) Prices $5M Notes Offering at $0.50/sh

Virpax Pharmaceuticals, Inc. (Nasdaq: VRPX) announced today the pricing of its public offering of $5.0 million of shares of the Company’s common stock, par value 0.00001 per share, and/or pre-funded warrants to purchase shares of common stock at a public offering price of $0.50 per share (minus $0.00001 per pre-funded warrant). The Company intends to use the proceeds of the offering to fund the Company’s ongoing activities, in connection with its planned investigational new drug (IND) filing for its proprietary patented injectable “local anesthetic” liposomal technology for post operative pain management (ProbudurTM), as well as for working capital and other general corporate purposes.

Spartan Capital Securities, LLC is acting as the exclusive placement agent in connection with the offering.

The offering is expected to close on November 14, 2024, subject to customary closing conditions. The offering is being conducted pursuant to the Company’s registration statement on Form S-1, as amended (File No. 333-281080), initially filed with the Securities and Exchange Commission (the “SEC”) on July 29, 2024, as amended on August 13, 2024, October 18, 2024, October 28, 2024, and November 7, 2024, and subsequently declared effective by the SEC on November 12, 2024. The offering is being made only by means of a prospectus. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at https://www.sec.gov/. Copies of the final prospectus relating to this offering, when available, may be obtained from Spartan Capital Securities, LLC, at 45 Broadway, 19th Floor, New York, NY 10006.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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