Virax Biolabs Group Completes Exercise of Preferred Investment Options for $3.3 Million

Virax Biolabs Group Limited announced on July 9, 2026, that it has finalized an agreement for the immediate exercise of certain outstanding preferred investment options. This transaction is expected to generate approximately $3.3 million in gross proceeds for the company, prior to deducting fees and expenses.

The exercise involves up to 548,000 ordinary shares, originally issued in October 2023 and amended in December 2025, at a reduced exercise price of $6.00 per share. The original exercise price was $10.00 per share.

In connection with the exercise, Virax Biolabs will issue new unregistered Series A and Series B preferred investment options. These new warrants will have an exercise price of $6.00 per share and require shareholder approval for an increase in authorized ordinary shares. The Series A warrants will be exercisable after shareholder approval, while the Series B warrants have shorter-term exerciseability.

H.C. Wainwright & Co. served as the exclusive placement agent for the offering. The company intends to use the net proceeds for general corporate purposes and working capital. The transaction is expected to close on or about July 10, 2026.