re: IMGN
IMGN 8.13 -0.57
Press Release Source: ImmunoGen, Inc. On Thursday May 6, 2010, 7:22 pm EDT
WALTHAM, Mass.--(BUSINESS WIRE)--ImmunoGen, Inc. (Nasdaq: IMGN - News), a biopharmaceutical company that develops targeted anticancer therapeutics, announced today that it has priced a public offering of 9,000,000 shares of its common stock at a price of $8.00 per share. Net proceeds, after underwriting discounts and commissions and expenses, will be approximately $67.4 million. ImmunoGen has granted the underwriters a thirty (30) day option to purchase up to 1,350,000 additional shares to cover over-allotments, if any. The offering is expected to close on or about May 12, 2010, subject to satisfaction of customary closing conditions.
J.P. Morgan Securities Inc. is acting as the sole book-runner for the offering and Oppenheimer & Co. Inc., RBC Capital Markets Corporation, Cantor Fitzgerald & Co. and Morgan Joseph & Co. Inc. are acting as co-managers.
The securities described above are being offered by ImmunoGen pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering. The offering may be made only by means of a prospectus, copies of which may be obtained, when available, from J.P. Morgan Securities Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at 1-866-803-9204.
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