Immunic announces pricing of $65M public offering

Immunic (IMUX) announced the pricing of an underwritten public offering of (i) pre-funded warrants to purchase shares of common stock, (ii) series A warrants to purchase shares of common stock, and (iii) series B warrants to purchase shares of common stock. The combined public offering price of one Pre-Funded Warrant, one Series A Warrant, and one Series B Warrant, which are being sold together but are immediately seperable, is 74.99c. The Pre-Funded Warrants will be immediately exercisable, and may be exercised at any time after their original issuance. The Series A Warrants will be immediately exercisable any time before December 31, 2025. The Series B Warrants will be exercisable beginning on October 1, 2025, or earlier if certain thresholds are met, until five years from the date of issuance. The Series A and B Warrants will immediately expire in proportion to the extent that the corresponding pre-funded warrant offered hereby is exercised on or prior to September 30, 2025, subject to certain exceptions. All securities in the offering are being sold by Immunic. The initial gross proceeds from the offering are expected to be approximately $65M before deducting underwriting discounts and commissions and offering expenses. The company may receive up to an aggregate of $130M of additional gross proceeds if the Series A Warrants and Series B Warrants are exercised in full for cash. The offering is expected to close on or about June 3, 2025, subject to the satisfaction of customary closing conditions. The company intends to use the net proceeds received from the proposed offering to fund its clinical trials and operations and for other general corporate purposes. Leerink Partners is acting as the sole bookrunner for the offering. B. Riley Securities and Brookline Capital Markets, a division of Arcadia Securities, are acting as co-managers and William Blair & Company is acting as financial advisor to the company.