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MabVax Therapeutics Announces the Closing of its Public Offering

SAN DIEGO, Aug. 22, 2016 /PRNewswire/ -- MabVax Therapeutics Holdings, Inc. (MBVX), a clinical-stage oncology drug development company announces the closing of its public offering of common stock and Series F Preferred Stock and warrants for a total of $9.4 million, including approximately $800,000 received from the underwriter in exercising the full amount of its over-allotment option. Sold in the offering were a combination of common stock and Series F Preferred Stock at $4.81 per share of common stock or Series F Preferred Stock, and included one Class A warrant exercisable at $5.55 per share and one Class B warrant exercisable at $6.29 per share for each share of common stock or Series F Preferred Stock sold in the offering. Both OPKO Health, Inc. (OPK) and Dr. Phillip Frost, CEO and Chairman of OPKO Health, participated in the offering.

The total gross proceeds of the public offering were before the underwriter's discount and expenses. The warrants are immediately exercisable and expire August 17, 2019. Neither the warrants nor the Series F Preferred Stock will be separately listed on any securities exchange or other trading market. Laidlaw & Company (UK) Ltd. acted as the sole book-running manager for this offering including exercise of the over-allotment option.

A registration statement relating to these securities was previously filed on Form S-1 (333-211421) with the Securities and Exchange Commission (the "SEC"), and was declared effective by the SEC on August 16, 2016. A final prospectus relating to the offering may be obtained on the SEC's website located at www.sec.gov, and...


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