Immatics Announces Pricing of $150 Million Public Offering

Immatics N.V. (NASDAQ: IMTX), a clinical-stage biopharmaceutical company specializing in T cell-redirecting cancer immunotherapies, has announced the pricing of its $150 million public offering. The offering, subject to market conditions and other factors, is expected to close on October 22, 2024, with proceeds intended to support further research and development, manufacturing, production, and commercialization of its product candidates, as well as working capital and other general corporate purposes.

The offering consists of 15,925,000 ordinary shares at a public offering price of $11.00 per share. In addition, Immatics has granted the underwriters a 30-day option to purchase up to 2,388,750 additional shares at the public offering price, less the underwriting discount. Jefferies, BofA Securities, and Leerink Partners are acting as joint book-running managers for the offering.

The pricing of this offering is slightly lower than Immatics' previous public offering in January 2024, where the company raised $175 million by selling 15,925,000 ordinary shares at a price of $11.00 per share. However, it is higher than the $110 million offering in October 2022, which was priced at $10.09 per share. This suggests that Immatics' market perception and financial health have improved since its last offering.

The proceeds from this offering will be used to advance Immatics' pipeline of Adoptive Cell Therapies and TCR Bispecifics, as well as to fund its partnerships with global pharmaceutical leaders. The company is committed to delivering the power of T cells and unlocking new avenues for patients in their fight against cancer.

In conclusion, Immatics' $150 million public offering is a testament to the company's strong market position and the potential of its T cell-redirecting cancer immunotherapies. With the support of prominent investment banks, Immatics is well-positioned to continue its mission of developing innovative cancer treatments and improving the lives of patients.