AC Immune prices 14.3M shares at $3.50 in underwritten offering

AC Immune has priced an underwritten offering of 14.3M of its common shares at a price of $3.50 per share. The Company expects the gross proceeds from the offering, before deducting the underwriting discounts and commissions and other offering expenses, to be approximately $50.1M. The equity offering was led by BVF Partners L.P., with participation from several existing and new institutional investors including Avidity Partners, Redmile Group, and StemPoint Capital LP. The Company plans to use the proceeds from the offering, together with existing liquidity, primarily to strategically invest in research and clinical development of its current pipeline, its technology platforms, working capital, capital expenditures and general corporate purposes. Delivery of the common shares of the Company against payment of the offering price is expected to be made on or about December 19, 2023, subject to satisfaction of customary closing conditions. Jefferies and Leerink Partners are acting as joint book-running managers for the offering. H.C. Wainwright & Co. is acting as lead manager for the offering.