IMGN - ImmunoGen secures $257M capital raise

ImmunoGen (NASDAQ:IMGN) has priced its public offering of ~11.6M common shares at $6.60/share, and to certain investors in lieu of common stock, pre-funded warrants to purchase up to ~27.4M shares of common stock at $6.59/share. Expected gross proceeds are $257.1M. Underwriters' over-allotment is an additional 5.85M shares. Net proceeds will be used to fund operations, commercialization activities, clinical trial activities, business development activities, and working capital. Closing date is December 6, 2021. Previously (Nov. 30): ImmunoGen slips on $175M common stock offering

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ImmunoGen secures $257M capital raise