GAITHERSBURG, Md., June 22, 2018 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq:ALT), a clinical-stage immunotherapeutics company focused on preventing infectious diseases, today announced it has entered into an agreement with the lead investor and one other investor in its Series B Financing to restructure and terminate the previous arrangements. Under terms of the new agreement, these two investors, who collectively held approximately 68% of the outstanding shares of Series B preferred stock and associated warrants, will receive cash instead of common shares as repayment of the final two installments of the Series B preferred stock. Additionally, the investors will receive a combination of cash and common stock to terminate all outstanding warrants held by them. A portion of the cash will be in the form of a short-term note, which may be converted into shares of common stock at the election of the holder thereof upon the occurrence of certain specified events of default.

About Altimmune

Altimmune is a clinical-stage immunotherapeutics company focused on the development of products to stimulate robust and durable immune responses for the prevention and treatment of infectious disease. NasoVAX our influenza vaccine candidate has unique characteristics, stimulating multiple arms of the immune system that offer the potential to stop infection and the spread of flu, while being easier to administer through an intranasal spray. NasoShield and SparVax-L are two next-generation anthrax vaccine candidates that are intended to improve protection and safety while having favorable dosage and storage requirements compared to other anthrax vaccines.