IGMS - IGM Biosciences prices 3.29M shares at $8.00 in underwritten public offering

2023-06-22 08:28:06 ET

• IGM Biosciences ( NASDAQ: IGMS ) has announced the pricing of its upsized underwritten public offering of 3.29M shares of its voting common stock and 7.31M shares of its non-voting common stock, in each case at a price to the public of $8/share.
• In addition, IGM has granted the underwriters a 30-day option to purchase up to an additional 1.59M shares of its voting common stock at the public offering price.
• Concurrent with the public offering, IGM intends to sell, subject to the consummation of the public offering and other customary conditions, in a private placement.
• IGM expects to receive total gross proceeds of ~$107.3M from the public offering and the concurrent private placement.
• The public offering is expected to close on or about June 26, 2023.

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