ImmunityBio amends stock sale agreement to authorize $460M offering

ImmunityBio Inc. (NASDAQ: IBRX) amended its at-the-market stock offering agreement with Jefferies LLC on December 23, authorizing the sale of an additional $459.97 million in common stock shares.

The biotechnology company modified its existing Open Market Sale Agreement from April 2021, which allows for periodic stock sales through Jefferies acting as sales agent. The amendment also includes administrative changes related to share settlement processes and auditor procedures.

The stock sales will be conducted under ImmunityBio's shelf registration statement filed with the Securities and Exchange Commission in April 2024. The company filed a prospectus supplement on December 23 to register the additional share authorization.

The at-the-market offering program allows ImmunityBio to sell shares gradually into the public market rather than through a single large offering. The amendment permits the company to register additional amounts with the SEC beyond the current authorization.

ImmunityBio's common stock carries a par value of $0.0001 per share. The company operates under an effective shelf registration statement that became automatically effective upon filing with the SEC.

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