GAITHERSBURG, Md., May 08, 2019 (GLOBE NEWSWIRE) -- Novavax, Inc. (Nasdaq: NVAX) today announced it will effect a one-for-twenty reverse stock split of its issued and outstanding common stock. Stockholders of Novavax approved an amendment to Novavax’ Second Amended and Restated Certificate of Incorporation (the Amended Certificate) to effect the reverse stock split at a Special Meeting of Stockholders held on May 8, 2019. The reverse stock split is intended to give Novavax greater flexibility in considering and planning for future potential business needs and to increase the per share trading price of the Novavax’ common stock to enable Novavax to satisfy the minimum price requirement for continued listing on the Nasdaq Global Select Market. Pursuant to the Amended Certificate, the reverse stock split will be effective at 12:01 a.m., Eastern Time, on May 10, 2019. Novavax expects that upon the opening of trading on May 10, 2019, its common stock will trade on the Nasdaq Global Select Market on a split-adjusted basis under the current trading symbol “NVAX” and the new CUSIP number 670002 401.

The reverse stock split affects all issued and outstanding shares of Novavax’ common stock. The par value of the Novavax’ common stock will remain unchanged at $0.01 per share after the reverse stock split. The reverse stock split affects all stockholders uniformly and will not alter any stockholder’s percentage interest in the Novavax’ equity, except to the extent that the reverse stock split results in some stockholders receiving cash in lieu of any fractional shares as described below.

About Novavax

Novavax, Inc. (Nasdaq: NVAX) is a late-stage biotechnology company that drives improved health globally through the discovery, development, and commercialization of innovative vaccines to prevent serious infectious diseases. Its two priority programs are ResVax™, its RSV vaccine for infants via maternal immunization, and NanoFlu™, its quadrivalent influenza nanoparticle vaccine. Novavax’ proprietary recombinant technology platform combines the power and speed of genetic engineering to efficiently produce a new class of highly immunogenic nanoparticles addressing urgent global health needs.

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