Immunocore announces $300M convertible senior notes offering

Immunocore Holdings announced its intention to offer, subject to market and other conditions, $300M aggregate principal amount of convertible senior notes due 2030 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. Immunocore intends to use the net proceeds from the offering, together with its existing cash and cash equivalents, to accelerate its clinical pipeline and for ongoing commercial expansion. In addition, Immunocore intends to repay in full loans outstanding under its loan agreement with investment funds managed by Pharmakon Advisors. Immunocore intends to use any remaining proceeds for other working capital and general corporate purposes.