Immunovant Announces Pricing of $121.2 Million Public Offering
NEW YORK, April 14, 2020 / PR Newswire / Immunovant, Inc. (Nasdaq: IMVT), a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases, today announced the pricing of its underwritten public offering of 8,359,448 shares of its common stock at a price to the public of $14.50 per share. The aggregate gross proceeds to Immunovant from the offering are expected to be approximately $121.2 million, before deducting underwriting discounts and commissions and offering expenses. All of the shares of common stock are being offered by Immunovant. The offering is expected to close on April 16, 2020, subject to customary closing conditions. In connection with this offering, Immunovant has granted the underwriters a 30-day option to purchase up to an aggregate of 1,253,917 additional shares of common stock on the same terms and conditions.
SVB Leerink, UBS Investment Bank, SunTrust Robinson Humphrey and Chardan are acting as joint bookrunning managers for the offering. Nomura is acting as the lead manager for the offering. LifeSci Capital LLC is acting as the co-manager for the offering.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on April 14, 2020. A copy of the final prospectus, when available, may be obtained from SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor Boston, MA 02110, by telephone at 1-800-808-7525, ext. 6218, or by email at email@example.com; UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at (888) 827-7275 or by email at firstname.lastname@example.org; SunTrust Robinson Humphrey, Inc., 3333 Peachtree Road NE, 9th Floor, Atlanta, GA 30326, Attention: Prospectus Department; email: email@example.com; or Chardan Capital Markets LLC, 17 State Street, 21st floor, New York, NY 10004.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.
Immunovant, Inc. is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. Immunovant is developing IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies.
John Strumbos, Ph.D., MBA
Vice President, Finance