Immunomedics raises $15 million in sale of common stock

Twitter icon
Facebook icon
LinkedIn icon
e-mail icon
Google icon

Biopharmaceutical company Immunomedics Inc. announced that agreements have been signed to sell 4,178,116 shares of its common stock, resulting in gross proceeds to the company of approximately $15.1 million. The shares are being sold to select institutional investors at a price of $3.61 per share.

Immunomedics said it has also agreed to grant these investors rights to purchase an additional 4,178,116 shares of its common stock at a price of $3.97 per share, by a date no later than November 24, 2004. The shares of common stock are being offered pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission.