Shah Capital Sells $32.6M Novavax Stake, Ends Activist Campaign

Key Facts

1Shah Capital sold 2.87 million shares of Novavax for approximately $32.6 million.

2Shah Capital ended its activist campaign as it transitioned to a family office structure.

Shah Capital sold approximately 2.87 million shares of Novavax for $32.6 million. Benzinga reported that Shah Capital, the second-largest shareholder in the company, has ended its activist campaign as it transitions to a family office structure.

NVAX closed at $11.26 on October 16, 2026, with the stock trading between a day low of $11.11 and a high of $12.84 during that session. The liquidation by a major stakeholder marks a significant shift in the pharmaceutical company's investor base.