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Immunovant Announces Closing of Upsized Common Stock Financing and Full Exercise of Underwriters’ Option to Purchase Additional Shares

2023-10-02 16:52 ET - News Release

NEW YORK, Oct. 02, 2023 (GLOBE NEWSWIRE) -- Immunovant, Inc. (Nasdaq: IMVT), a clinical-stage immunology company dedicated to enabling normal lives for people with autoimmune diseases, today announced the closing of its previously announced underwritten public offering of 8,475,500 shares of its common stock at a price of $38.00 per share. This includes the exercise in full by the underwriters of their option to purchase up to 1,105,500 additional shares of common stock. Concurrent with the public offering, Immunovant sold 4,473,684 shares of common stock to Roivant Sciences, Ltd. at a price of $38.00 per share in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended, or the Securities Act. The aggregate gross proceeds to Immunovant from the public offering and concurrent private placement were approximately $492.1 million, before deducting underwriting discounts and commissions, placement agent fees and offering expenses payable by Immunovant.

Leerink Partners, Piper Sandler, Guggenheim Securities and Wells Fargo Securities acted as joint bookrunning managers for the public offering. LifeSci Capital acted as co-manager for the public offering.  

The shares in the public offering were offered by Immunovant pursuant to a Registration Statement on Form S-3 previously filed and declared effective by the SEC. A final prospectus supplement related to the public offering was filed with the SEC on September 29, 2023 and is available on the SEC’s website located at www.sec.gov.

Copies of the final prospectus supplement and the accompanying prospectus relating to the public offering may also be obtained from: Leerink Partners LLC, Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525 ext. 6105, or by email at syndicate@leerink.com; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by telephone at (800) 747-3924, or by email at prospectus@psc.com; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, or by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com; and Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street - 14th Floor, New York, NY 10001, or by telephone at (800) 645-3751, or by email at WFScustomerservice@wellsfargo.com.

The shares of common stock sold in the concurrent private placement have not been registered under the Securities Act or under any state securities laws and, unless so registered may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

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

Chau Cheng, PhD MBA
Vice President, Investor Relations
Immunovant, Inc.

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