ImmunoGen Announces Proposed Public Offering of Common Stock
January 22 2020 - 4:01PM
Business Wire
ImmunoGen, Inc., (Nasdaq: IMGN), a leader in the expanding field
of antibody-drug conjugates (ADCs) for the treatment of cancer,
today announced that it intends to offer and sell, subject to
market and other conditions, shares of its common stock in an
underwritten public offering. ImmunoGen also intends to grant the
underwriters a 30-day option to purchase up to an additional
fifteen percent (15%) of the number of shares of common stock
offered in the public offering. All of the shares of common stock
to be sold in the offering are to be offered by ImmunoGen.
ImmunoGen intends to use the net proceeds of the offering,
together with its existing capital, to fund its operations,
including, but not limited to, clinical trial activities, supply of
drug substance and drug product, pre-commercialization activities,
capital expenditures, and working capital.
Jefferies, Cowen and William Blair are acting as joint
book-running managers for the proposed offering.
The securities described above are being offered by ImmunoGen
pursuant to a shelf registration statement that was previously
filed with the Securities and Exchange Commission (SEC) and became
effective upon filing. This press release does not constitute an
offer to sell or a solicitation of an offer to buy the securities
in this offering, nor shall there be any sale of these securities
in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction. A preliminary prospectus supplement and accompanying
prospectus relating to the offering will be filed with the SEC and
will be available on the SEC's website at www.sec.gov. Copies of
the preliminary prospectus supplement, when available, may also be
obtained by contacting Jefferies LLC, Attention: Equity Syndicate
Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY
10022, by e-mail at prospectus_department@jefferies.com or by
telephone at (877) 821-7388; Cowen and Company, LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
Attention: Prospectus Department, or by telephone at (631)
274-2806; or William Blair & Company, L.L.C., Attention:
Prospectus Department, 150 North Riverside Plaza, Chicago, IL
60606, by e-mail at prospectus@williamblair.com or by telephone at
(800) 621-0687.
ABOUT IMMUNOGEN ImmunoGen is developing the next
generation of antibody-drug conjugates to improve outcomes for
cancer patients. By generating targeted therapies with enhanced
anti-tumor activity and favorable tolerability profiles, we aim to
disrupt the progression of cancer and offer our patients more good
days. We call this our commitment to “target a better now.”
This press release includes forward-looking statements,
including statements related to the proposed public offering of
securities by ImmunoGen, including the intended use of the net
proceeds of the offering and existing capital. For these
statements, ImmunoGen claims the protection of the safe harbor for
forward-looking statements provided by the Private Securities
Litigation Reform Act of 1995. Various factors could cause actual
results to differ materially from those discussed or implied in the
forward-looking statements, and you are cautioned not to place
undue reliance on these forward-looking statements, which are
current only as of the date of this release. Factors that could
cause future results to differ materially from such expectations
include, but are not limited to: the uncertainties related to
market conditions and the completion of the public offering on the
anticipated terms or at all, uncertainties inherent in the
initiation of future clinical trials and such other factors more
fully described in ImmunoGen's Annual Report on Form 10-K for the
year ended December 31, 2018 and other reports filed with the
Securities and Exchange Commission.
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INVESTOR RELATIONS AND MEDIA
ImmunoGen Courtney O’Konek 781-895-0600
courtney.okonek@immunogen.com
OR
FTI Consulting Robert Stanislaro 212-850-5657
robert.stanislaro@fticonsulting.com
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