Business
Immunic, Inc. Announces Pricing of $45 Million Public Offering of Common Stock
NEW YORK, July 15, 2021 /PRNewswire/ -- Immunic, Inc. (the "Company") (Nasdaq: IMUX), a clinical-stage biopharmaceutical company developing a pipeline of
About this update from Immunic, Inc.
[{"type":"text","content":"NEW YORK, July 15, 2021 /PRNewswire/ -- Immunic, Inc. (the \"Company\") (Nasdaq: IMUX), a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies focused on treating chronic inflammatory and autoimmune diseases, today announced the pricing of an underwritten public offering of 4,500,000 shares of its common stock at a public offering price of $10 per share. The gross proceeds of the offering to the Company are expected to be approximately $45 million, before deducting underwriting discounts and commissions and other estimated offering expenses. In addition, the Company granted the underwriters a 30-day option to purchase up to an additional 675,000 shares of its common stock at the public offering price.\nThe closing of the offering is expected to occur on or about July 19, 2021, subject to the satisfaction of customary closing conditions.\nPiper Sandler is acting as sole book-runner for the offering. Ladenburg Thalmann & Co. Inc., Roth Capital Partners and Aegis Capital Corp. are acting as co-managers for the offering.\nThe Company intends to use the net proceeds of the offering to fund the ongoing clinical development of its three lead product candidates, IMU-838, IMU-935 and IMU-856, and for other general corporate purposes.\nThe securities described above are being offered by the Company pursuant to an effective shelf registration statement on Form S-3 (File No. 333-250083) previously filed with the Securities and Exchange Commission (\"SEC\") on November 13, 2020, which registration statement was declared effective on November 24, 2020.\nA preliminary prospectus supplement relating to the offering was filed with the SEC on July 14, 2021 and is available on the SEC's website at www.sec.gov. The final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website. Before investing in the offering, you should read each of the prospectus supplement and accompanying prospectus relating to the offering in their entirety as well as the other documents that the Company has filed with the SEC that are incorporated by reference in the prospectus supplement and accompanying prospectus relating to the offering, which provide more information about the Company and the offering. Copies of the final prospectus su...