NexImmune Announces Closing of Upsized Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
NexImmune announced the closing of its upsized initial public offering (IPO) of 7,441,650 shares at $17.00 per share, amounting to gross proceeds of approximately $126.5 million.
Sentiment and the balance of points
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Rhea-AI Summary
NexImmune announced the closing of its upsized initial public offering (IPO) of 7,441,650 shares at $17.00 per share, amounting to gross proceeds of approximately $126.5 million. The offering included the full exercise of underwriters' option for an additional 970,650 shares. This financing aims to support NexImmune’s innovative immunotherapy development leveraging the body’s T cells for potent immune responses. The offering was managed by Barclays, Cantor Fitzgerald, Raymond James, and Allen & Company.
Positive
- Gross proceeds of approximately $126.5 million from the IPO.
- Increased investor interest reflected by the upsized offering.
- Funding aimed at advancing the company's immunotherapy programs.
Negative
- Potential shareholder dilution from new stock issuance.
Details
News Market Reaction – NEXI
The recorded move for NEXI in the trading session of this news was -0.91%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
GAITHERSBURG, Md., Feb. 17, 2021 (GLOBE NEWSWIRE) -- NexImmune, Inc. (Nasdaq: NEXI), a clinical-stage biotechnology company developing a novel approach to immunotherapy designed to employ the body’s own T cells to generate a specific, potent and durable immune response, today announced the closing of its previously announced upsized initial public offering of 7,441,650 shares of its common stock at a price to the public of
Barclays Capital Inc., Cantor Fitzgerald & Co., Raymond James & Associates, Inc. and Allen & Company LLC acted as the joint book-running managers for the offering.
Registration statements relating to these securities have been filed with the Securities and Exchange Commission and became effective on February 11, 2021. The offering was made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained from: Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (888) 603-5847, or email: barclaysprospectus@broadridge.com; Cantor Fitzgerald & Co., Attention: Capital Markets Department, 499 Park Avenue, New York, NY 10022, or email: prospectus@cantor.com; Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, telephone: (800) 248-8863, or email: prospectus@raymondjames.com; or Allen & Company LLC., Attention: Prospectus Department, 711 Fifth Avenue, New York, NY 10022, telephone: (212) 339-2220, or email: allenprospectus@allenco.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About NexImmune
NexImmune, based in Gaithersburg, Maryland, is a clinical-stage biotechnology company developing a novel approach to immunotherapy designed to employ the body’s own T cells to generate a specific, potent and durable immune response that mimics natural biology.
Contacts
Investors:
Chad Rubin
Solebury Trout
646-378-2947
crubin@soleburytrout.com
Media:
Mike Beyer
Sam Brown Inc. Healthcare Communications
312-961-2502
mikebeyer@sambrown.com
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