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CONTRACTS
Northrop lands deal with National Guard
Security company Northrop Grumman said it received a training contract with the National Guard valued at $50 million over five years.
Northrop Grumman will support planning and execution for joint doctrine, education, training, exercises, assessments and corrective actions for the National Guard Bureau headquarters, Joint Force headquarters for the states and territories and subordinate joint entities.
-- Associated Press
BIOTECH
Novavax plans offer of 6.8 million shares
Biotech drug developer Novavax said Friday it plans to offer 6.8 million of its shares in an underwritten public offering, at a price of $3.30 per share.
The price is about 12 percent below the stock's Thursday closing price of $3.77. Shares fell 41 cents, or 11 percent, to $3.36 in morning trading.
The offering, which Novavax expects to close on or about Nov. 25, would dilute the value of Novavax's existing shares. A regulatory filing by the Rockville-based company listed about 93.5 million shares outstanding as of Nov. 4. That's up from 92.3 million as of Sept. 30, and up from 66.5 million as of Sept. 30, 2008.
Novavax expects to raise about $21 million from the offering, after expenses.
