IMV - IMV under pressure on $25M capital raise

IMV (IMV) plummets 17% premarket after pricing its public offering of 14,285,714 units at $1.75/unit, for aggregate gross proceeds of ~$25M.Each unit comprises of one common share and three-quarters of one common share purchase warrant. Net proceeds will be used to continue the clinical development of maveropepimut-S (DPX-Survivac), start the clinical development of a new product, DPX-SurMAGE and for general corporate purposes.Each warrant entitles the holder to purchase one common share at $2.10/share.Closing date is July 20.Wells Fargo Securities and Cantor are acting as joint book-running managers for the Offering. BTIG is acting as lead manager.

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IMV under pressure on $25M capital raise