BUZZ-ImmunityBio plunges after pricing $100 mln stock offering at 35% discount

Reuters12-11

(Updates)

** Shares of cancer therapy maker ImmunityBio plunge 19.6% to $3.73 premarket

** IBRX sold 33.3 mln shares in a public offering at $3/shr for gross proceeds of about $100 mln

** Stock offering priced at a 35.3% discount to the stock's last close

** Company plans to use the proceeds to fund the commercialization of its bladder cancer therapy, among other purposes

** IBRX had 696.8 mln outstanding shares as of Sept. 30, according to an SEC filing, giving it a $3.23 bln market capitalization as of last close

** Jefferies and Piper Sandler are the joint book-running managers for the offering

** As of last close, IBRX shares down 7.6% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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