NEW YORK, Sept. 02, 2020 (GLOBE NEWSWIRE) -- Immunovant, Inc. (Nasdaq: IMVT) today announced the pricing of its underwritten public offering of 5,270,093 shares of its common stock at a price to the public of $33.00 per share. The aggregate gross proceeds to Immunovant from the offering are expected to be approximately $173.9 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 September 4, 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 790,513 additional shares of common stock on the same terms and conditions. If the underwriters exercise this option in full, the aggregate gross proceeds to Immunovant from the offering would be approximately $200.0 million, before deducting underwriting discounts and commissions and offering expenses.
SVB Leerink, Guggenheim Securities and Chardan are acting as joint bookrunning managers for the offering. LifeSci Capital LLC and Baird are acting as the co-lead managers 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 September 1, 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 firstname.lastname@example.org; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-5548 or by email at GSEquityProspectusDelivery@guggenheimpartners.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 and Strategy