Immunovant (IMVT) Announces $450 Million Private Placement

Immunovant, Inc. (Nasdaq: IMVT), a clinical-stage immunology company dedicated to enabling normal lives for people with autoimmune diseases, today announced that it has agreed to sell an aggregate of 22,500,000 shares of common stock at a purchase price of $20.00 per share to three institutional accredited investors in a private investment in public equity (PIPE). Immunovant anticipates receiving aggregate gross proceeds of approximately $450 million from the PIPE. The PIPE is expected to close on or about January 15, 2025, subject to the satisfaction of customary closing conditions. Immunovant expects to use the proceeds from the PIPE for the advancement of its development pipeline, working capital and other general corporate purposes.

“We are excited to announce this significant financing from a U.S.-based healthcare focused investor, a large mutual fund complex, and Roivant,” said Dr. Pete Salzmann, Chief Executive Officer of Immunovant. “The additional capital will help us advance a broad development program for our lead asset IMVT-1402.”

The offer and sale of the shares of common stock to be sold in the PIPE are being made in a transaction not involving a public offering, and the shares have not been registered under the Securities Act of 1933, as amended (the Securities Act), or any applicable state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and such applicable state securities laws. Immunovant has agreed to register the resale of the shares of common stock to be issued in the PIPE with the Securities and Exchange Commission.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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