05:55:04 EDT Fri 10 Jul 2020
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or Name

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Symbol IMV
Shares Issued 61,228,289
Close 2020-06-30 C$ 4.18
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IMV enters equity distribution deal with agent

2020-06-30 17:33 ET - News Release

Mr. Marc Jasmin reports


In order to maintain the remainder of IMV Inc.'s at-the-market facility announced on March 18, 2020, under its new Canadian base shelf prospectus, IMV re-entered into an equity distribution agreement (EDA) dated June 30, 2020, with Piper Sandler & Co., pursuant to which the company may from time to time sell through "at-the-market" offerings, with Piper Sandler acting as sales agent, on the Nasdaq Capital Market such number of common shares that have an aggregate offering price of up to $24.5-million (U.S.) under the ATM prospectus supplement (as defined below). This amount reflects the amount which remains unsold following the company entering into the initial equity distribution agreement with Piper Sandler for an aggregate amount of $30-million (U.S.) as of such date and is only being filed as a result of the underlying Canadian final base shelf prospectus expiring on July 5, 2020.

The ATM offering will be made by way of a prospectus supplement to the company's Canadian final base shelf prospectus dated June 26, 2020, and the company's United States final base shelf prospectus, which is contained in the company's U.S. registration statement on Form F-10 dated June 19, 2020, as amended (File No. 333-239310). The registration statement was declared effective by the United States Securities and Exchange Commission on June 29, 2020. The ATM prospectus supplement has been filed with the Nova Scotia Securities Commission, as principal regulator in Canada, and in the United States with the SEC. The Toronto Stock Exchange has conditionally approved the ATM offering.

Piper Sandler, at IMV's discretion and instruction, will use its commercially reasonable efforts to sell the common shares at market prices from time to time. No offers or sales of common shares will be made in Canada or through the facilities of the TSX.

The company plans to use the net proceeds from the ATM offering for general corporate purposes, including, but not limited to, working capital expenditures, capital expenditures, research and development expenditures, and clinical trial expenditures, including expenditures related to a COVID-19 vaccine candidate.

Copies of the ATM prospectus supplement and the accompanying final base shelf prospectus relating to the offered common shares may be obtained for free from the offices of Piper Sandler & Co., attention: prospectus department, 800 Nicollet Mall, J12S03, Minneapolis, Minn., 55402, via telephone at 800-747-3924 or via e-mail at prospectus@psc.com.

About IMV Inc.

IMV is a clinical-stage biopharmaceutical company dedicated to making immunotherapy more effective, more broadly applicable, and more widely available to people facing cancer and other serious diseases. IMV is pioneering a new class of cancer-targeted immunotherapies and vaccines based on the company's proprietary drug delivery platform.

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