INMB - INmune enters $15M credit facility to fund purchase of Xencor option

INmune Bio (INMB) has entered into a new $15M credit facility to partially fund the buyout of an option held by Xencor (XNCR).Total consideration to be paid to Xencor is $18.3M, comprised of $15M of cash and $3.3M of INmune shares at a price of $17.14 resulting in the issuance of 192.5K shares.The retirement of the Xencor option eliminates an estimated 2.1M shares of potential future stock dilution, the company said.INmune shares down more than 3% post market.INmune had filed for an offering to sell ~1.7M shares from shareholder Xencor, in April.

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INmune enters $15M credit facility to fund purchase of Xencor option