ImmunoGen Inc. expects to generate about $84 million in gross proceeds from an offering of 7 million shares, the cancer treatment developer said Friday.
The Waltham, Mass., company priced the offering at $12 per share. The offering is expected to close Wednesday, and ImmunoGen has granted underwriters a 30-day option to buy up to 1.05 million additional shares to cover excess demand.
Jefferies & Co. Inc. is acting as the sole book-running manager for the offering. Oppenheimer & Co. Inc., RBC Capital Markets LLC, William Blair & Co. LLC, Canaccord Genuity Inc. and Morgan Joseph TriArtisan LLC are acting as co-managers.
Company shares fell 3.8 percent, or 49 cents, to $12.24 in morning trading.