Immunic, Inc. Announces $60.0 Million Oversubscribed Private Placement Equity Financing
Amount Raised
$60 Million
New YorkBiotechnologyDescription
Immunic, Inc. (Nasdaq: IMUX) ("Immunic" or the "Company"), a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies focused on treating chronic inflammatory and autoimmune diseases, today announced it has entered into a securities purchase agreement (the "Purchase Agreement") with select accredited investors and certain existing investors to issue and sell an aggregate of 8,696,552 shares of its common stock ("Common Stock") at a price of $4.35 per share, reflecting a 10% premium to the closing price on October 7, 2022 on NASDAQ, and pre-funded warrants ("Pre-Funded Warrants") to purchase up to an aggregate of 5,096,552 shares of Common Stock at a purchase price of $4.34 per pre-funded warrant share, through a private investment in public equity ("PIPE") financing. The Pre-Funded Warrants will have an exercise price of $0.01 per share of Common Stock, to be immediately exercisable and remain exercisable until exercised in full. Immunic anticipates the gross proceeds from the PIPE to be approximately $60.0 million, before deducting any offering related expenses