IMARA Announces Pricing of Initial Public Offering
March 12, 2020
BOSTON, March 11, 2020 (GLOBE NEWSWIRE) — IMARA Inc. (the “Company”) (Nasdaq: IMRA), a clinical-stage biopharmaceutical company dedicated to developing and commercializing novel therapeutics to treat patients suffering from rare inherited genetic disorders of hemoglobin, known as hemoglobinopathies, announced the pricing of its initial public offering of 4,700,000 shares of common stock at a public offering price of $16.00 per share, for gross proceeds of $75.2 million, before underwriting discounts and commissions and offering expenses payable by the Company. The offering is expected to close on March 16, 2020, subject to customary closing conditions. In addition, the Company has granted the underwriters an option for a period of 30 days to purchase up to 705,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. All shares are being offered by the Company.
The Company’s common stock is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “IMRA” on March 12, 2020.
Morgan Stanley, Citigroup and SVB Leerink are acting as joint book-running managers for the offering.
A registration statement relating to the offering of these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on March 11, 2020. This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
The securities referred to in this release are to be offered only by means of a prospectus. When available, copies of the final prospectus can be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Dept.; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717 or by telephone at (800) 831-9146; or SVB Leerink LLC, One Federal Street, 37th Floor, Boston, Massachusetts, 02110, Attention: Syndicate Department, by telephone at (800) 808-7525, ext. 6218, or by email at firstname.lastname@example.org.
IMARA is a clinical-stage biopharmaceutical company dedicated to developing and commercializing novel therapeutics to treat patients suffering from rare inherited genetic disorders of hemoglobin, known as hemoglobinopathies.
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
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