Vaccinex, Inc. entered into purchase agreement to issue common stock, warrants and common warrants for a aggregate gross proceeds of $3,700,125.95 on February 7, 2024. The company will issue 3,838,544 shares of the common stock at a issue price $0.725 for a gross proceeds $2,782,944.4, 1,265,078 warrants at issue price $0.725 for a gross proceeds for $917,181.55 and warrants to purchase up to an equal number 5,103,622 of shares of common stock. The common warrants will have an exercise price of $1 per share.

The common warrants will be immediately exercisable and will expire five years from the initial exercise date. The closing of the offering is expected to occur on or before February 8, 2024, subject to the satisfaction of customary closing conditions.