Imara Sets IPO at 4.45 Million Shares, Sees Pricing at $16-$18 Each

Biopharmaceutical company Imara Inc. on Tuesday said it expects to sell 4.45 million shares at between $16 and $18 apiece in its planned initial public offering.
At the $17 midpoint of that range, the Boston company said it expects net proceeds of about $66.4 million, or roughly $76.9 million if the underwriters exercise their option to buy an additional 667,500 shares.
Imara said it will use proceeds from the offering to fund research and development costs, adding that it expects the proceeds, coupled with existing resources, will be sufficient to fund its operating expenses and capital expenditure requirements into mid-2022.
In a filing with the Securities and Exchange Commission, Imara said it will have about 17 million shares outstanding after the IPO, assuming exercise of the overallotment option, for a valuation of about $288.9 million at the $17-a-share midpoint.
Imara’s principal shareholders include entities affiliated with New Enterprise Associates 14 L.P., Lundbeckfond Invest A/S, Pfizer Ventures (US) LLC and OrbiMed Private Investments VII LP are among its principal stockholders.
The company said it has applied to list its shares on the Nasdaq Global Market under the symbol IMRA.

https://www.marketscreener.com/PFIZER-INC-23365019/news/Pfizer-Imara-Sets-IPO-at-4-45-Million-Shares-Sees-Pricing-at-16-18-Each-30100521/