IGM Biosciences announces $100M common stock offering, private placement

IGM Biosciences announced that it intends to offer and sell an aggregate of $100M of shares of its common stock and, in lieu of common stock to certain investors that so choose, non-voting common stock, in an underwritten public offering and concurrent private placement. Concurrent with the proposed public offering, IGM intends to sell, subject to the consummation of the proposed public offering and other customary conditions, in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended, shares of non-voting common stock to certain institutional and other accredited investors affiliated with or managed by Redmile Group, at a sale price equal to the price to the public in the public offering. However, the consummation of the public offering is not contingent on the consummation of this concurrent private placement. BofA Securities, Jefferies, Stifel, and Guggenheim Securities are acting as joint book-running managers for the proposed public offering.