Immunovant, Inc. has announced the pricing of its underwritten public offering of 5,270,093 shares of its common stock at a price to the public of US$33.00 per share. The aggregate gross proceeds to Immunovant from the offering are expected to be approximately US$173.9 million, before deducting underwriting discounts and commissions and offering expenses. All of the shares of common stock are being offered by Immunovant. The offering is expected to close on September 4, 2020, subject to customary closing conditions. In connection with this offering, Immunovant has granted the underwriters a 30-day option to purchase up to an aggregate of 790,513 additional shares of common stock on the same terms and conditions. If the underwriters exercise this option in full, the aggregate gross proceeds to Immunovant from the offering would be approximately US$200.0 million, before deducting underwriting discounts and commissions and offering expenses.
Latham & Watkins represents the underwriters in the transaction with a capital markets team led by New York partner Nathan Ajiashvili and Orange County partner Shayne Kennedy, with New York associates Katherine Lovejoy, Tina Jeon and Egzon Sulejmani.
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