The Nasdaq-listed biotechnology company closed the transaction after cutting the exercise price to $6.00 from $10.00 and issued new private-placement warrants tied to 1,644,000 ordinary shares.
Virax Biolabs Group Limited said it closed the previously announced exercise of certain outstanding preferred investment options covering 548,000 ordinary shares, generating gross proceeds of about $3.3 million before fees and expenses. The options, originally issued in October 2023, amended in December 2025 and carrying an original exercise price of $10.00 per share, were exercised at a reduced price of $6.00 per share. In connection with the cash exercise, the company issued new unregistered Series A and Series B preferred investment options in a private placement, both with a $6.00 exercise price and together covering up to 1,644,000 ordinary shares. H.C. Wainwright & Co. acted as exclusive placement agent. Virax said it intends to use the net proceeds as working capital for general corporate purposes, while the new warrants become exercisable after shareholder approval of an increase in authorized ordinary shares and are subject to resale registration steps with the SEC.