Invivyd Announces Pricing of $125 Million Public Offering of Common Stock and Pre-Funded Warrants

Rhea-AI Summary

Invivyd (Nasdaq: IVVD) priced an underwritten public offering totaling approximately $125.0 million in gross proceeds on Nov 18, 2025. The offering comprises 44,000,000 shares of common stock at $2.50 per share and, to certain investors, 6,000,000 pre-funded warrants at $2.4999 each (exercise price $0.0001). The company granted underwriters a 30-day option to buy up to 7,500,000 additional shares. Closing is expected on or about Nov 19, 2025, subject to customary conditions.

Invivyd said net proceeds will fund commercial preparedness for potential launch of VYD2311, continued R&D (including RSV and measles programs), SPEAR Study Group work on monoclonal antibody effects in Long COVID and COVID-19 post-vaccination syndrome, and general corporate purposes. Cantor is sole book-running manager and H.C. Wainwright is lead manager. The offering is made from a shelf registration on Form S-3 (File No. 333-267643).

Positive

• Gross proceeds of approximately $125.0 million
• Proceeds targeted for commercial preparedness for VYD2311
• Proceeds allocated to R&D for RSV and measles programs
• Pre-funded warrants provide capital structure flexibility

Negative

• Issuance of 44,000,000 shares of common stock
• Issuance of 6,000,000 pre-funded warrants potentially converting to shares
• Underwriters granted option for up to 7,500,000 additional shares

Insights

Capital Markets Strategist

Underwritten equity raise for Invivyd priced to raise approximately $125.0 million, closing ~Nov 19, 2025.

The company is selling 44,000,000 common shares at $2.50 each and up to 6,000,000 pre-funded warrants at $2.4999 each, with underwriters granted a 30-day option for an additional 7,500,000 shares. Gross proceeds are stated at $125.0 million, before underwriting discounts, commissions, and offering expenses. The securities are offered under an effective Form S-3 shelf and the offering is expected to close on or about Nov 19, 2025.

This transaction directly increases available liquidity and explicitly allocates net proceeds to commercial preparedness for potential launch of VYD2311, continued R&D for RSV and measles programs, SPEAR Study Group efforts on monoclonal antibody effects, and general corporate purposes. Key near-term items to watch include the closing timing and whether the underwriter option is exercised within 30 days, which will affect total dilution and gross proceeds.

NEW HAVEN, Conn., Nov. 17, 2025 (GLOBE NEWSWIRE) -- Invivyd, Inc. (Invivyd) (Nasdaq: IVVD) today announced the pricing of an underwritten public offering of 44,000,000 shares of its common stock at an offering price of $2.50 per share and, to certain investors, in lieu of common stock, pre-funded warrants to purchase 6,000,000 shares of its common stock at a price of $2.4999 per pre-funded warrant. The gross proceeds from this offering are expected to be approximately $125.0 million, before deducting underwriting discounts and commissions and offering expenses payable by Invivyd. The purchase price per share of each pre-funded warrant represents the per share offering price for the common stock, minus the $0.0001 per share exercise price of each such pre-funded warrant. All of the shares and pre-funded warrants are being offered by Invivyd. In addition, Invivyd has granted the underwriters an option for a period of 30 days to purchase up to an additional 7,500,000 shares of Invivyd common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about November 19, 2025, subject to the satisfaction of customary closing conditions.

Cantor is acting as sole book-running manager for the offering. H.C. Wainwright & Co. is acting as lead manager for the offering.

Invivyd intends to use the net proceeds that it will receive from the offering, together with its existing cash and cash equivalents, for commercial preparedness for the potential launch of VYD2311, continued research and development related to its pipeline programs such as respiratory syncytial virus (RSV) and measles, continued advancement of the Spike Protein Elimination and Recovery (SPEAR) Study Group efforts related to assessing the effects of monoclonal antibody therapy for Long COVID and COVID-19 Post-Vaccination Syndrome, and for working capital and other general corporate purposes.

The securities described above are being offered by Invivyd pursuant to a shelf registration statement on Form S-3 (File No. 333-267643) filed with the U.S. Securities and Exchange Commission (SEC) on September 28, 2022 and declared effective by the SEC on October 5, 2022.

The offering is being made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A preliminary prospectus supplement and free writing prospectus relating to the offering were filed with the SEC on November 17, 2025 and are available on the SEC’s website at www.sec.gov. The final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and also will be available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement, when available, and accompanying prospectus relating to the offering may also be obtained from Cantor Fitzgerald & Co., Attention: Equity Capital Markets, 110 East 59^th Street, 6^th Floor, New York, New York 10022; or by e-mail at prospectus@cantor.com.

This press release shall not constitute an offer to sell or the 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Invivyd

Invivyd, Inc. (Nasdaq: IVVD) is a biopharmaceutical company devoted to delivering protection from serious viral infectious diseases, beginning with SARS-CoV-2. Invivyd deploys a proprietary integrated technology platform unique in the industry designed to assess, monitor, develop, and adapt to create best in class antibodies. In March 2024, Invivyd received emergency use authorization (EUA) from the U.S. FDA for a monoclonal antibody (mAb) in its pipeline of innovative antibody candidates.

Trademarks are the property of their respective owners.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “could,” “expects,” “intends,” “potential,” “projects,” and “future” or similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding the amount of proceeds from the offering, the timing of the closing of the offering, as well as the anticipated use of the net proceeds from the offering. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause Invivyd’s actual results to be materially different than those expressed in or implied by Invivyd’s forward-looking statements. For Invivyd, this includes satisfaction of the customary closing conditions of the offering, delays in obtaining required stock exchange or other regulatory approvals, political uncertainties, stock price volatility and uncertainties relating to the financial markets, the medical community and the global economy, and the impact of instability in general business and economic conditions, including changes in inflation, interest rates and the labor market. Other factors that may cause Invivyd’s actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are described under the heading “Risk Factors” in the preliminary prospectus supplement and the free writing prospectus relating to the offering filed with the SEC, in Invivyd’s Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 filed with the SEC, and in Invivyd’s other filings with the SEC, and in its future reports to be filed with the SEC and available at www.sec.gov. Forward-looking statements contained in this press release are made as of this date, and Invivyd undertakes no duty to update such information whether as a result of new information, future events or otherwise, except as required under applicable law.

Contacts:

Media Relations
(781) 208-0160
media@invivyd.com

Investor Relations
(781) 208-1747
investors@invivyd.com

FAQ

How much money is Invivyd (IVVD) raising in the November 2025 offering?

Invivyd priced the offering to raise approximately $125.0 million in gross proceeds.

What securities did Invivyd (IVVD) sell in the Nov 18, 2025 offering?

The offering includes 44,000,000 common shares at $2.50 and 6,000,000 pre-funded warrants at $2.4999 each.

When is the Invivyd (IVVD) offering expected to close?

The offering is expected to close on or about November 19, 2025, subject to customary closing conditions.

How does Invivyd (IVVD) plan to use the net proceeds from the offering?

Proceeds are intended for commercial preparedness for VYD2311, continued R&D including RSV and measles, SPEAR study work, and general corporate purposes.

Who are the underwriters for Invivyd's (IVVD) Nov 2025 offering?

Cantor is the sole book-running manager and H.C. Wainwright is the lead manager.

Can Invivyd (IVVD) issue more shares related to this offering?

Yes; underwriters have a 30-day option to purchase up to 7,500,000 additional shares at the offering price, less discounts and commissions.