May 7 2010
ImmunoGen, Inc. (Nasdaq: IMGN), a biopharmaceutical company that develops targeted anticancer therapeutics, announced today that it has priced a public offering of 9,000,000 shares of its common stock at a price of $8.00 per share. Net proceeds, after underwriting discounts and commissions and expenses, will be approximately $67.4 million. ImmunoGen has granted the underwriters a thirty (30) day option to purchase up to 1,350,000 additional shares to cover over-allotments, if any. The offering is expected to close on or about May 12, 2010, subject to satisfaction of customary closing conditions.
J.P. Morgan Securities Inc. is acting as the sole book-runner for the offering and Oppenheimer & Co. Inc., RBC Capital Markets Corporation, Cantor Fitzgerald & Co. and Morgan Joseph & Co. Inc. are acting as co-managers.
SOURCE ImmunoGen, Inc.