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INmune Bio, Inc. Announces Closing of $25 Million Public Offering of Common Stock Including Full Exercise of Underwriters’ Over-Allotment Option
LA JOLLA, Calif., July 20, 2020 (GLOBE NEWSWIRE) -- INmune Bio, Inc. (NASDAQ: INMB) (the “Company” or “INmune”), a clinical-stage immunology company focused
About this update from Inmune Bio Inc.
[{"type":"text","content":"LA JOLLA, Calif., July 20, 2020 (GLOBE NEWSWIRE) -- INmune Bio, Inc. (NASDAQ: INMB) (the “Company” or “INmune”), a clinical-stage immunology company focused on developing treatments that harness a patient’s innate immune system to fight disease, today announced the closing of its previously announced underwritten public offering of an aggregate of 2,173,914 shares of its common stock at a public offering price of $10.00 per share and the exercise in full of the underwriters’ option to purchase an additional 326,086 shares of common stock. A total of 2,500,000 shares of common stock were issued in the offering, including the full exercise of the over-allotment option. \n The gross proceeds to INmune from this offering are approximately $23.1 million, before deducting underwriting discounts and commissions and other offering expenses payable by INmune. INmune intends to use the net proceeds from the offering for general corporate purposes, including to support research and development, including clinical trials. BTIG, LLC acted as sole book-running manager of the offering, and National Securities Corporation acted as a co-manager. The offering was made pursuant to the shelf registration statement on Form S-3 (File No. 333-237368) that was filed with the Securities and Exchange Commission (the “SEC”) on March 24, 2020 and became effective on April 2, 2020, including the related base shelf prospectus, as supplemented by the prospectus supplement dated July 16, 2020. The final prospectus supplement and accompanying base shelf prospectus are available on the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 the registration or qualification under the securities laws of any such state or jurisdiction. About INmune Bio, Inc. INmune Bio, Inc. is a publicly traded (NASDAQ: INMB), clinical-stage biotechnology company focused on developing treatments that target the innate immune system to fight disease. INmune Bio has two product platforms. The DN-TNF product platform utilizes dominant-negative technology to selectively neutralize soluble TNF, a key driver of innate immune dysfunction and mechanistic tar...