Immunogen (IMGN) has released an update.
ImmunoGen has successfully completed its merger and, in the process, settled all outstanding obligations under its previous Loan Agreement, releasing all collateral tied to it. Shareholders of common stock, excluding certain shares, received a cash payout of $31.26 per share, and all equity awards were fully vested or cancelled and settled in cash. Following the merger, trading of the company’s common shares on the Nasdaq ceased and steps were taken to delist the company, with plans to terminate all SEC reporting obligations. Additionally, the company’s board of directors was reconstituted, and its articles of organization and by-laws were fully amended and restated.
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