Vaxcyte Announces Closing of $632.5 Million Public Offering Including Full Exercise of Underwriters’ Option to Purchase Additional Shares

Vaxcyte (Nasdaq: PCVX) closed an underwritten public offering of 12,650,000 shares at $50.00 per share, including full exercise of a 1,650,000-share underwriter option.

Rhea-AI Summary

Vaxcyte (Nasdaq: PCVX) closed an underwritten public offering of 12,650,000 shares at $50.00 per share, including full exercise of a 1,650,000-share underwriter option. The aggregate gross proceeds were $632.5 million, before underwriting discounts, commissions, and offering expenses. A shelf registration was effective May 24, 2024.

Positive

• Raised $632.5 million in gross proceeds
• Offered 12,650,000 shares at $50.00 per share
• Underwriters exercised full 1,650,000-share option

Negative

• Issuance will dilute existing shareholders due to new share issuance
• Net proceeds will be reduced by underwriting discounts, commissions, and offering expenses

Argus Feb 3 session

-2.91% close to close Open Argus

Details

News Market Reaction – PCVX

In the Feb 3 session, PCVX declined 2.91%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement confirms the closing of a sizable equity financing, with Vaxcyte raising $632.5 mi...

Analysis

This announcement confirms the closing of a sizable equity financing, with Vaxcyte raising $632.5 million by selling 12,650,000 shares at $50.00. It follows a series of offering-related steps in late January 2026 and earlier large-capital raises in 2024. Investors tracking this story may focus on how the strengthened balance sheet supports late-stage trials and manufacturing expansion, while monitoring future disclosures on cash usage, development timelines and additional financing activity.

Key Figures

Shares offered: 12,650,000 shares Offer price: $50.00 per share Underwriters’ option: 1,650,000 shares +1 more

Shares offered

12,650,000 shares

Total common stock in this public offering

Offer price

$50.00 per share

Public offering price for common stock

Underwriters’ option

1,650,000 shares

Additional shares available under option, fully exercised

Gross proceeds

$632.5 million

Aggregate gross proceeds before fees and expenses

Previous Offering Reports

5 past events · Latest: Jan 29

Same Type 5 events

1. Jan 29

   Offering pricing

   24h Move

   +2.8%

   Priced 11,000,000-share offering at $50, targeting $550M gross proceeds.

2. Jan 29

   Offering launch

   24h Move

   +2.8%

   Announced proposed $500M common and pre-funded warrant offering plus option.

3. Sep 06

   Offering closing

   24h Move

   +3.3%

   Closed ~$1.5B deal with full over-allotment exercise in stock and warrants.

4. Sep 04

   Offering pricing

   24h Move

   +2.7%

   Priced ~$1.3B public offering with additional-share option for underwriters.

5. Sep 03

   Offering launch

   24h Move

   -0.9%

   Commenced $1.0B offering with $150M underwriter option in common and warrants.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

underwritten public offering, prospectus supplement

2 terms

underwritten public offering financial

"announced today the closing of its previously announced underwritten public offering"

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

prospectus supplement regulatory

"A final prospectus supplement and accompanying prospectus relating to the offering"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SAN CARLOS, Calif., Feb. 02, 2026 (GLOBE NEWSWIRE) -- Vaxcyte, Inc. (Nasdaq: PCVX), a clinical-stage vaccine innovation company, announced today the closing of its previously announced underwritten public offering of 12,650,000 shares of common stock at a public offering price of $50.00 per share. This includes the exercise in full by the underwriters of their option to purchase up to 1,650,000 additional shares of common stock at the public offering price per share, less underwriting discounts and commissions. The aggregate gross proceeds to Vaxcyte from this offering were $632.5 million, before deducting underwriting discounts and commissions and other offering expenses payable by Vaxcyte.

BofA Securities, Jefferies, Leerink Partners, Evercore ISI and Guggenheim Securities acted as joint book-running managers, Mizuho acted as a book-runner and BTIG and Needham & Company acted as joint lead co-managers for the offering.

A shelf registration statement relating to the offered securities was filed with the Securities and Exchange Commission (SEC) and was automatically effective upon filing on May 24, 2024. A final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website, located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from BofA Securities NC1-022-02-25, Attention: Prospectus Department, 201 North Tryon Street, Charlotte, North Carolina 28255-0001 or by email at dg.prospectus_requests@bofa.com; Jefferies LLC, Attention: Equity Syndicate Department, 520 Madison Avenue, New York, New York 10022, by telephone at 1-877-821-7388, or by email at Prospectus_Department@Jefferies.com; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by email at syndicate@leerink.com or by phone at (800) 808-7525, ext. 6105; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at 1-888-474-0200 or by email at ecm.prospectus@evercore.com; and Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities 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 Vaxcyte

Vaxcyte is a vaccine innovation company engineering high-fidelity vaccines to protect humankind from the consequences of bacterial diseases. VAX-31, a 31-valent pneumococcal conjugate vaccine (PCV) candidate being evaluated in a Phase 3 adult clinical program and in a Phase 2 infant clinical program, is being developed for the prevention of invasive pneumococcal disease (IPD) and is the broadest-spectrum PCV candidate in the clinic today. VAX-24, a 24-valent PCV candidate, is designed to cover more serotypes than any infant PCV on-market. VAX-31 and VAX-24 are designed to improve upon standard-of-care PCVs by covering the serotypes in circulation that cause a significant portion of IPD and are associated with high case-fatality rates, antibiotic resistance and meningitis, while maintaining coverage of previously circulating strains. VAX-XL, in earlier-stage development, also leverages the Company’s carrier-sparing, site-specific conjugation technology with the aim of further expanding coverage to deliver the broadest-spectrum candidate in the Company’s PCV franchise.

Vaxcyte is re-engineering the way highly complex vaccines are made through XpressCF®, its cell-free protein synthesis platform exclusively licensed from Sutro Biopharma, Inc. Unlike conventional cell-based approaches, the Company’s system for producing difficult-to-make proteins and antigens is intended to accelerate its ability to develop high-fidelity vaccines with enhanced immunological benefits. Vaxcyte’s pipeline also includes VAX-A1, a prophylactic vaccine candidate designed to prevent Group A Strep infections, and VAX-GI, a vaccine candidate designed to prevent Shigella.

Contacts:

Patrick Ryan, Executive Director, Corporate Affairs
Vaxcyte, Inc.
415-606-5135
media@vaxcyte.com 

Jeff Macdonald, Executive Director, Investor Relations
Vaxcyte, Inc.
917-371-0940
investors@vaxcyte.com 

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did Vaxcyte (PCVX) sell in the February 2, 2026 offering?

Vaxcyte sold 12,650,000 shares in the offering, including the full underwriter option of 1,650,000 shares. According to the company, the shares were priced at $50.00 per share, producing aggregate gross proceeds of $632.5 million.

What were the proceeds and pricing details of Vaxcyte's (PCVX) public offering?

The offering was priced at $50.00 per share, generating aggregate gross proceeds of $632.5 million. According to the company, that total is before deducting underwriting discounts, commissions, and offering expenses payable by Vaxcyte.

Did underwriters exercise their option in Vaxcyte's (PCVX) offering and what does that mean?

Yes, underwriters exercised the full 1,650,000-share option to purchase additional shares. According to the company, this increased the total sold to 12,650,000 shares and raised the aggregate gross proceeds to $632.5 million.

How will Vaxcyte (PCVX) investors be affected by the new share issuance?

Existing shareholders will experience share dilution because new common stock was issued in the offering. According to the company, dilution results from the sale of 12,650,000 shares at $50.00 per share.

Where can investors find the final prospectus for Vaxcyte's (PCVX) February 2, 2026 offering?

The final prospectus supplement and accompanying prospectus are filed with the SEC and available on its website. According to the company, copies can also be requested from listed underwriters such as BofA or Jefferies.