- The stock price of Immunocore Holdings plc (NASDAQ: IMCR) increased by 66.15% on Friday, February 5. This is why it happened.
The stock price of Immunocore Holdings plc (NASDAQ: IMCR) — a late-stage biotechnology company pioneering the development of a novel class of T cell receptor (TCR) bispecific immunotherapies designed for treating a broad range of diseases, including cancer, infectious and autoimmune disease — increased by 66.15% on Friday, February 5. Investors appear to be responding to the company announcing the pricing of an upsized IPO.
Immunocore had announced the pricing of its upsized initial public offering in the United States of 9,935,896 American Depositary Shares (ADSs) representing 9,935,896 ordinary shares at an initial public offering price of $26 per ADS for total gross proceeds of approximately $258.3 million. And all ADSs sold in the offering were offered by Immunocore.
The ADSs were expected to begin trading on The Nasdaq Global Select Market on February 5, 2021 under the ticker symbol “IMCR.” And Immunocore has granted the underwriters a 30-day option to buy up to an additional 1,490,384 ADSs at the initial public offering price, less underwriting discounts, and commissions. The offering is expected to close on or about February 9, 2021, subject to customary closing conditions.
Previously, Immunocore was planning to raise $200 million in an IPO by offering 8.33 million shares at a proposed midpoint of $24.
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