Immunovant (IMVT) Announces Proposed $300M Share Offering
- Futures subdued ahead of comments from Fed officials; Zscaler falls
- Barclays raises 2024 S&P 500 price target but warns stocks are 'moving too far, too fast'
- Amazon is now the biggest delivery business in the U.S. - WSJ
- Stocks steady as dollar dithers ahead of US data
- There is a 'significant shift in sentiment' on Boeing stock says RBC and upgrades to buy
Immunovant, Inc. (Nasdaq: IMVT), a clinical-stage immunology company dedicated to enabling normal lives for people with autoimmune diseases, today announced the commencement of a proposed underwritten public offering and concurrent private placement of an aggregate of $300,000,000 of shares of its common stock. Immunovant intends to offer and sell $130,000,000 of shares of its common stock in an underwritten public offering. In addition, Immunovant intends to grant the underwriters for the offering a 30-day option to purchase up to an additional $19,500,000 of shares of its common stock offered at the public offering price. All of the shares are being offered by Immunovant.
Concurrent with the proposed public offering, Immunovant intends to sell $170,000,000 of shares of its common stock to Roivant Sciences Ltd. in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended, subject to consummation of the proposed public offering and other customary conditions. However, the consummation of the public offering is not contingent on the consummation of this concurrent private placement.
The proposed public offering and concurrent private placement are subject to market and other conditions, and there can be no assurance as to whether or when the proposed public offering and concurrent private placement may be completed, or the actual size or terms of the proposed public offering and concurrent private placement.
Leerink Partners, Piper Sandler, Guggenheim Securities and Wells Fargo Securities are acting as joint bookrunning managers for the public offering. LifeSci Capital is acting as co-manager for the public offering.
The shares in the public offering are being offered by Immunovant pursuant to a Registration Statement on Form S-3 previously filed and declared effective by the SEC. The offering will be made only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement related to the public offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov.
When available, a copy of the preliminary prospectus supplement and the accompanying prospectus relating to the public offering may also be obtained from: Leerink Partners LLC, Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525 ext. 6105, or by email at [email protected]; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by telephone at (800) 747-3924, or by email at [email protected]; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, or by telephone at (212) 518-9544, or by email at [email protected]; and Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street - 14th Floor, New York, NY 10001, or by telephone at (800) 645-3751, or by email at [email protected].
The shares of common stock to be sold in the concurrent private placement have not been registered under the Securities Act or under any state securities laws and, unless so registered may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.
This press release 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 prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Extra Space Storage (EXR) Prices $600M Notes Offering
- Encompass Health Corporation (EHC) Appoints Edward M. Christie III to its Board
- FREYR Battery (FREY) Announces Organizational Structure and Management Changes
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesS3, Wells Fargo, Guggenheim
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!