Virax Biolabs Raises $3.3 Million Through Preferred Investment Options

The transaction saw the exercise of options for 548,000 ordinary shares, originally issued between 2023 and 2025. H.C. Wainwright & Co. served as the exclusive placement agent for the offering. To facilitate this immediate cash infusion, Virax issued new unregistered Series A and Series B warrants, granting holders the right to purchase up to 1.64 million additional shares at the same $6.00 strike price, pending shareholder approval for an increase in authorized shares.

Management intends to deploy the net proceeds toward general corporate working capital. While the company pursues its diagnostic platforms, including its ViraxImmune T-cell profiling technology, it remains subject to the volatile regulatory and competitive landscape of the biotech sector. The firm has committed to filing a registration statement with the SEC to cover the resale of shares underlying these new warrants, though current offerings remain restricted under private placement exemptions.