IGM Announces Pricing Of $107.3M Upsized Public Offering Of 3,285,327 Shares Of Its Voting Common Stock And 7,312,500 Shares Of Its Non-Voting Common Stock At $8/Share; Also Concurrent Private Placement Of 2,812,500 At $8/Share
Portfolio Pulse from Happy Mohamed
IGM Biosciences announces the pricing of its $107.3M upsized public offering of voting and non-voting common stock at $8 per share, and a concurrent private placement of 2,812,500 shares at $8 per share. The public offering is expected to close on June 26, 2023.
June 22, 2023 | 12:04 pm
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IGM Biosciences' $107.3M upsized public offering and concurrent private placement may lead to short-term dilution of existing shares.
The upsized public offering and concurrent private placement will increase the number of outstanding shares, which may lead to short-term dilution of existing shares. However, the additional capital raised could be used for growth and expansion, potentially benefiting the company in the long run.
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