logo
Plus   Neg
Share
Email

I-Mab Prices IPO At $14.00/ADS, Within Estimated $12 To $15/ADS Range

Shanghai, China-based I-Mab said that it has priced its initial public offering of 7.41 million American Depositary Shares at $14.00 per ADS, within its previously estimated range of $12.00 to $15.00 per ADS.

The ADSs will begin trading on January 17, 2020 on the Nasdaq Global Market under the symbol "IMAB".

The company has granted the underwriters an option to purchase up to an additional 1.11 million ADSs within 30 days from the date of the final prospectus at $14.00 per ADS.

The company expects that the total gross proceeds from the offering to be about $103.70 million, assuming the underwriters do not exercise their option to purchase additional ADSs, or about $119.26 million, if the underwriters choose to exercise their option to purchase additional ADSs in full.

I-Mab is a clinical stage biopharmaceutical company developing novel or highly differentiated biologics to treat diseases with significant unmet medical needs, particularly cancers and autoimmune disorders.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Federal Trade Commission (FTC) is in the process of sending out refund checks to consumers who were allegedly misled by Office Depot, Inc. and its software provider Support.com, Inc., into buying computer repair products and services. Out of $34 million, being the total amount of checks, Office Depot paid $25 million and Support.com paid $10 million as part of 2019 settlement. Gap Inc. partnered with fashion resale platform thredUP to facilitate the exchange of secondhand cloths. The retailer in a blog post said its customers can bring secondhand clothes in exchange for shopping credit that can be redeemed at Gap, Banana Republic, Athleta, or Janie and Jack. Customers who redeem their credits at Gap brands will receive an additional 15 percent payout bonus. Coca-Cola Co. (KO) on Friday reaffirmed its guidance for the full-year 2020 and provided an update on the expected impact from COVID-19 on first quarter 2020 results, ahead of its presentation at the Consumer Analyst Group of New York (CAGNY) Conference. For fiscal 2020, the company continues to project...
RELATED NEWS
Follow RTT
>