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Iovance Biotherapeutics, Inc. Announces Pricing of $211 Million Underwritten Offering of Common Stock
SAN CARLOS, Calif., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Iovance Biotherapeutics, Inc. (Nasdaq: IOVA) (“Iovance” or “Company”), a biotechnology company focused
About this update from Iovance Biotherapeutics, Inc.
[{"type":"text","content":"SAN CARLOS, Calif., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Iovance Biotherapeutics, Inc. (Nasdaq: IOVA) (“Iovance” or “Company”), a biotechnology company focused on innovating, developing, and delivering novel polyclonal tumor infiltrating lymphocyte (“TIL”) therapies for patients with cancer, today announced the pricing of an underwritten offering of 23,014,000 shares of its common stock at an offering price of $9.15 per share. The gross proceeds from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Iovance, are expected to be approximately $211 million. The offering is expected to close on or about February 22, 2024, subject to customary closing conditions. Iovance intends to use the proceeds from this offering to support the commercial launch of AMTAGVI™, to fund ongoing clinical programs including its NSCLC registrational study, IOV-LUN-202, and its frontline advanced melanoma Phase 3 confirmatory trial, TILVANCE-301, to continue the development of its pipeline candidates, and for other general corporate purposes. Jefferies LLC is acting as lead bookrunning manager and Barclays Capital Inc. and Goldman Sachs & Co. LLC are acting as bookrunning managers for the offering. The shares of common stock described above are being offered by Iovance pursuant to its shelf registration statement on Form S-3 that became automatically effective upon filing with the Securities and Exchange Commission on June 16, 2023. The offering may be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York, 10022, by telephone at (877) 547-6340, or by email at [email protected], or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-888-603-5847 or by email at [email protected], or Goldman Sachs & Co. LLC by mail at 200 West Street, New York, 10282, Attention: Prospectus Department, by telephone at (866) 471-2526, or by email at [email protected]. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities...