IPOS - Immunovant Announces Pricing of $450 Million Common Stock Financing | Benzinga
NEW YORK, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Immunovant, Inc. (NASDAQ:IMVT), a clinical-stage immunology company dedicated to enabling normal lives for people with autoimmune diseases, today announced the pricing of an underwritten public offering and concurrent private placement, with anticipated gross proceeds to Immunovant of approximately $450 million, before deducting underwriting discounts and commissions and other expenses payable by Immunovant in connection with the transactions. All of the shares are to be sold by Immunovant.
Immunovant offered 7,370,000 shares of its common stock in the public offering, at an offering price of $38.00 per share. In addition, Immunovant has granted the underwriters for the public offering a 30-day option to purchase up to an additional 1,105,500 shares of its common stock at the public offering price, less underwriting discounts and commissions.
Concurrent with the public offering, Immunovant has agreed to sell 4,473,684 shares of common stock to Roivant Sciences, Ltd. at a price of $38.00 per share, in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended, or the Securities Act, subject to the consummation of the public offering and other customary conditions. However, the consummation of the public offering is not contingent on the consummation of this concurrent private placement.
The public offering and concurrent private placement are expected to close on or about October 2, 2023, subject to satisfaction of customary closing conditions.
Leerink Partners, Piper Sandler, Guggenheim Securities and Wells Fargo Securities are acting as ...