IMV Inc. announces $9M registered direct offering priced ATM

IMV Inc. announced that it has entered into definitive agreements for the sale of an aggregate of 3,448,276 common shares and warrants to purchase up to an aggregate of 3,448,276 common shares at a purchase price of $2.61 per common share and accompanying Warrant in a registered direct offering priced at-the-market under the Nasdaq Capital Market rules. The Warrants have an exercise price of $2.50 per share, are exercisable immediately, and will expire five years following their date of issuance. H.C. Wainwright & Co. is acting as the exclusive placement agent for the Offering. The gross proceeds from the Offering to IMV, before deducting placement agent commissions and other offering expenses and excluding any proceeds that may be received upon exercise of the Warrants, are expected to be approximately $9M. IMV intends to use the net proceeds from the Offering to continue the clinical development of its lead product candidate, maveropepimut-S, in diffuse large B cell lymphoma, ovarian cancer, the completion of its ongoing basket trial and to continue the development of its proprietary drug delivery platform and for general corporate purposes. The Offering is expected to close on or about December 20, 2022, subject to the satisfaction of customary closing conditions.