Virpax Announces Pricing of $2.25 Million Public Offering

Virpax Pharmaceuticals, Inc. (“Virpax” or the “Company”) (NASDAQ: VRPX), a company specializing in developing non-addictive products for pain management, post-traumatic stress disorder, central nervous system (CNS) disorders and anti-viral barrier indications, announced today the pricing of a public offering of 1,666,667 shares of common stock (or common stock equivalents in lieu thereof), Series A-1 common warrants to purchase up to 1,666,667 shares of common stock, and Series A-2 common warrants to purchase up to 1,666,667 shares of common stock, at a combined public offering price of $1.35 per share and associated Series A-1 common warrant to purchase one share of common stock and Series A-2 common warrant to purchase one share of common stock, for aggregate gross proceeds of approximately $2.25 million, before deducting placement agent fees and other offering expenses. The Series A-1 warrants will have an exercise price of $1.35 per share, will be exercisable immediately, and will expire five years from the initial issuance date. The Series A-2 warrants will have an exercise price of $1.35 per share, will be exercisable immediately, and will expire eighteen months from the initial issuance date.

The closing of the offering is expected to occur on or about May 17, 2024, subject to the satisfaction of customary closing conditions.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.

The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-278796) previously filed with the Securities and Exchange Commission (“SEC”) on April 18, 2024, as amended, which became effective on May 14, 2024. The offering is being made only by means of a prospectus forming part of the effective registration statement. A preliminary prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. When available, an electronic copy of the final prospectus may be obtained on the SEC’s website located at http://www.sec.gov and may also be obtained by contacting A.G.P./Alliance Global Partners at 590 Madison Avenue, 28th Floor, New York, NY 10022, by telephone at [phone], or by email at [e-mail].