Latham & Watkins Advises the Underwriters in Vaxcyte’s Upsized Initial Public Offering

Vaxcyte, Inc., a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide, has announced the pricing of its upsized initial public offering of 15,625,000 shares of common stock at a public offering price of US$16.00 per share. All of the shares are being offered by Vaxcyte, and the gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Vaxcyte, are anticipated to be US$250 million. The shares are expected to begin trading on the Nasdaq Global Select Market on June 12, 2020, under the ticker symbol “PCVX.” In addition, Vaxcyte has granted the underwriters a 30-day option to purchase up to an additional 2,343,750 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on June 16, 2020, subject to the satisfaction of customary closing conditions.

Latham & Watkins LLP represents the underwriters in the initial public offering with a capital markets team led by partners Peter Handrinos, Brian Cuneo, and Miles Jennings, with associates Michelle Lu and Raul Gonzalez. Advice was also provided on FDA regulatory matters by partner Ben Haas, with associate Chad Jennings; on intellectual property matters by partner Judith Hasko with associate Jiqiang Lin; on benefits and compensation matters by partner Matthew Conway with associate Nikhil Kumar; and on tax matters by partner Kirt Switzer with associate Janet Hsu.