Follow-on Offering

Healthcare
Follow-on Offering

Summary

Baird served as a lead manager on this offering

About

IGM Biosciences, Inc. (“IGMS”) (NASDAQ-GS:IGMS) recently completed an upsized underwritten public offering of 1,221,224 shares of its common stock at a public offering price of $90.00 per share and, in lieu of common stock to certain investors that so choose, pre-funded warrants to purchase1,334,332 shares of its common stock at a purchase price of $89.99 per pre-funded warrant. The offering included the exercise in full by the underwriters of their option to purchase an additional 333,333 shares of common stock at the public offering price. The total gross proceeds to IGMS from the offering are approximately $230.0 million.

IGMS is a clinical-stage biotechnology company focused on creating and developing engineered IgM antibodies. Since 2010, IGMS has worked to overcome the manufacturing and protein engineering hurdles that have limited the therapeutic use of IgM antibodies. Through its efforts, IGMS has created a proprietary IgM technology platform for the development of IgM antibodies for those clinical indications where their inherent properties may provide advantages as compared to IgG antibodies. IGM Biosciences, Inc. is headquartered in Mountain View, California.
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Healthcare
Follow-on Offering
Date
December 2020
Company
IGM Biosciences, Inc.
Transaction
M&A
Sectors
Healthcare
Target Location
North America

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