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, announced the closing of an underwritten public offering of 4,500,000 shares of its common stock at a public offering price of $10.00 per share.
The company announced a planned new share issue that had many investors heading to the exits, and drove the stock down by more than 21% on the day. Immunic aims to raise gross proceeds of around $45 million by selling 4.5 million shares of common stock at $10 apiece in an underwritten public offering. The underwriting syndicate, led by Piper Sandler (NYSE: PIPR), has been granted a 30-day option to buy up to an extra 675,000 shares among themselves.
Immunic Inc (NASDAQ: IMUX) has priced an underwritten public offering of 4.5 million shares at per share, representing a discount of about 16% from the last close price of $11.89 on Wednesday. The gross proceeds are expected to be approximately $45 million. Underwriters have an option to purchase up to an additional 675,000 shares. The offering will close by July 19. Piper Sandler is acting as the sole book-runner for the offering. Ladenburg Thalmann & Co. Inc., Roth Capital Partners, and Aegis