Innate Pharma (OTCPK:IPHYF) has priced
its initial public offering by way of a capital increase of 12.5M new
ordinary shares, consisting of 8,047,227 ordinary shares in the form of
ADSs at $5.50/ADS, and a concurrent private placement of 4,452,773
ordinary shares in Europe at €4.97/ordinary share, for aggregate gross
proceeds of ~$68.8M (~€62.1M).
Underwriters over-allotment is an additional
1,875,000 ADSs. The ADSs are expected to trade on Nasdaq today under the
ticker symbol “IPHA”.
Net proceeds will be used for the development of
monalizumab, IPH4102, IPH5401, to build commercial capabilities for
Lumoxiti and to expand the preclinical pipeline, including transitioning
IPH5301.
A portion of net proceeds might also be used to
in-license, acquire or invest in complementary technologies, products,
businesses or assets, and for general corporate purposes.
Closing date is October 21, 2019.
https://seekingalpha.com/news/3506449-innate-pharma-prices-69m-ipo
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