IMV Inc. Establishes At-the-Market Facility
March 18 2020 - 7:23AM
Business Wire
IMV Inc. (TSX: IMV; NASDAQ: IMV) (the "Company" or “IMV”), a
clinical-stage biopharmaceutical company, today announced that it
has entered into an equity distribution agreement, dated March 18,
2020, with Piper Sandler & Co. ("Piper Sandler") as agent,
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 (the “Nasdaq”) such number of common
shares as would have an aggregate offering price of up to US$30
million under the ATM Prospectus Supplement (as defined below).
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 Toronto Stock
Exchange. The ATM Offering will be made by way of a prospectus
supplement (the "ATM Prospectus Supplement") to the Company's
Canadian final base shelf prospectus 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, as amended
(File No. 333-225326) (the “Registration Statement”) dated June 5,
2018. The Registration Statement was declared effective by the
United States Securities and Exchange Commission (the “SEC”) on
June 6, 2018.
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 TSX has conditionally
approved the Offering.
The Company plans to use the net proceeds from this 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
prospectus relating to the offered common shares may be obtained
from may be obtained for free from the offices of Piper Sandler
& Co., Attention: Prospectus Department, 800 Nicollet Mall,
J12S03, Minneapolis, MN 55402, via telephone at (800) 747-3924 or
via email at prospectus@psc.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these common shares in any jurisdiction in which an offer,
solicitation or sale would be unlawful prior to registration or
qualifications under the securities laws of any such
jurisdiction.
About IMV
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 Company’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-targeted immunotherapy that
combines the utility of the platform with a target: survivin. IMV
is currently assessing DPX-Survivac targeted therapy in advanced
ovarian cancer, as well as a combination therapy in multiple
clinical studies with Merck.
IMV 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. Forward-looking statements in this news
release include, without limitation, statements about the possible
sales of common shares and statements regarding how the Company
intends to use the proceeds from the sale of shares. Such
statements 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 risks affecting
the Company and its products. The Company assumes no responsibility
to update forward-looking statements in this press release, except
as required by law. These forward-looking statements involve known
and unknown risks and uncertainties and those risks and
uncertainties include, but are not limited to, the Company’s
ability to successfully sell common shares in the proposed
offering, the Company’s ability to access capital generally, the
successful and timely completion of clinical trials, the receipt of
necessary regulatory approvals and other risks detailed from time
to time in the Company’s ongoing filings and in its annual
information form filed with the Canadian regulatory authorities on
SEDAR as www.sedar.com and with the SEC on EDGAR at www.sec.gov.
Investors are cautioned not to rely on these forward-looking
statements and are encouraged to read the Company’s continuous
disclosure documents which are available on SEDAR and on EDGAR.
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version on businesswire.com: https://www.businesswire.com/news/home/20200318005361/en/
Investor Relations Marc Jasmin, Senior Director,
Investor Relations, IMV O: (902) 492-1819, ext: 1042 M: (514)
617-9481 E: mjasmin@imv-inc.com
Josh Rappaport, Director, Stern IR O: (212) 362-1200 E:
josh.rappaport@sternir.com
Media Mrs. Delphine Davan, Director of Communications,
IMV M: (514) 968-1046 E: ddavan@imv-inc.com
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