IMV Inc. Announces Partial Exercise of Option To Purchase Additional Shares in Connection with Underwritten Public Offering o...
March 11 2019 - 7:41AM
Business Wire
IMV Inc. (“IMV” or the “Corporation”) (NASDAQ: IMV; TSX:
IMV), a clinical-stage immuno-oncology corporation, is pleased to
announce that the underwriters of its previously announced
underwritten public offering (the “Offering”) of common shares have
partially exercised their option to purchase additional common
shares, resulting in the issuance of an additional 504,855 common
shares of the Corporation at a price of C$5.45 per share for
additional gross proceeds of approximately C$2.75 million. As a
result of the exercise of this option, the Corporation has raised
total gross proceeds of approximately C$29.46 million from the
Offering, before deducting the underwriting commissions and
Offering expenses.
The Corporation intends to use the net proceeds of the Offering
to accelerate the development of DPX-Survivac in combination with
Keytruda as part of the basket trial select advanced or recurrent
solid tumours in bladder, liver (hepatocellular carcinoma), ovarian
or non-small-cell lung cancers, as well as tumours shown to be
positive for the microsatellite instability high biomarker and for
general corporate purposes.
Wells Fargo Securities and Raymond James acted as joint
book-running managers for the Offering. B. Riley FBR acted as
co-manager.
The Offering was made pursuant to a U.S. registration statement
on Form F-10, declared effective by the U.S. Securities and
Exchange Commission (the “SEC”) on June 6, 2018
(the “Registration Statement”), and the Company’s existing
Canadian short form base shelf prospectus (the “Base
Prospectus”) dated June 5, 2018. A preliminary prospectus
supplement relating to the Offering was filed on February 28, 2019
with the securities commissions in the provinces of British
Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec, Nova
Scotia and Newfoundland and Labrador in Canada, and with the SEC in
the United States, and a final prospectus supplement relating to
the Offering (the “Supplement”) was filed on March 1, 2019
with the securities commissions in the provinces of British
Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec, Nova
Scotia and Newfoundland and Labrador in Canada, and with the SEC in
the United States. The Supplement and the accompanying Base
Prospectus contain important detailed information about the
Offering. The Supplement and the accompanying Base Prospectus can
be found on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
Copies of the Supplement and accompanying Base Prospectus may also
be obtained from Wells Fargo Securities, Attn: Equity Syndicate,
375 Park Avenue, New York, NY 10152, by telephone at (800)
326-5897, or by email at cmclientsupport@wellsfargo.com or from
Raymond James, Attn: Equity Syndicate, 880 Carillon Parkway, St.
Petersburg, Florida 33716, or by telephone at (800) 248-8863, or
e-mail at prospectus@raymondjames.com.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any province, 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
province, state or jurisdiction.
About IMV Inc.
IMV Inc. 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 immunotherapies based on
the Corporation’s proprietary drug delivery platform. This patented
technology leverages a novel mechanism of action that enables the
programming of immune cells in vivo, which are aimed at generating
powerful new synthetic therapeutic capabilities. IMV’s lead
candidate, DPX-Survivac, is a T cell-activating immunotherapy that
combines the utility of the platform with a target: survivin. IMV
is currently assessing DPX-Survivac as a monotherapy in advanced
ovarian cancer, as well as a combination therapy in multiple
clinical studies in collaboration with Merck.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking information under
applicable securities law. All information that addresses
activities or developments that we expect to occur in the future is
forward-looking information. Forward-looking statements are based
on the estimates and opinions of management on the date the
statements are made. In the press release, such forward-looking
statements include, but are not limited to, statements regarding
the anticipated use of proceeds from the Offering. However, they
should not be regarded as a representation that any of the plans
will be achieved. Actual results may differ materially from those
set forth in this press release due to known and unknown risks and
uncertainties affecting the Corporation, including access to
capital, the successful design and completion of clinical trials,
the receipt and timely receipt of all regulatory approvals and
other risks detailed from time to time in our ongoing quarterly
filings and annual information form. IMV Inc. assumes no
responsibility to update forward-looking statements in this press
release except as required by law. Investors are cautioned not to
rely on these forward-looking statements and are encouraged to read
IMV’s continuous disclosure documents, including its current annual
information form, as well as its audited annual consolidated
financial statements which are available on SEDAR
at www.sedar.com and on EDGAR at www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20190311005460/en/
IMV:MEDIAAndrea Cohen, Sam Brown Inc.T: (917)
209-7163 E: AndreaCohen@sambrown.comINVESTOR RELATIONSMarc
Jasmin, IMV Senior Director, Investor RelationsT: (902) 492-1819
E: info@imv-inc.com
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