IGM Biosciences Inc (IGMS)

IGM Biosciences Shares Surge on Takeover Agreement with Concentra

IGM Biosciences Inc. (NASDAQ:IGMS) saw its stock jump 20% after revealing it has reached a definitive agreement to be acquired by Concentra Biosciences in a cash-and-contingent deal.

According to the terms announced, Concentra will purchase IGM Biosciences for $1.247 per share in cash, along with a non-tradeable contingent value right (CVR) for each share. The CVR gives shareholders the right to receive 100% of IGM’s closing net cash in excess of $82 million, as well as 80% of any net revenue from the sale of select product assets or intellectual property within 12 months of the deal closing.

The board of directors at IGM Biosciences unanimously approved the transaction, citing the agreement as being in the best interests of shareholders. Concentra is set to launch a tender offer no later than July 16, 2025, to acquire all outstanding shares of IGM common stock.

Finalization of the merger will depend on standard closing conditions, including a majority of shareholders tendering their stock and the company retaining at least $82 million in available cash at the time of the deal’s completion. The companies expect the transaction to close by August 2025.

IGM has built its pipeline around engineered therapeutic antibodies using IgM technology, aimed at improving efficacy in targeted treatments. Legal counsel for IGM is being provided by Wilson Sonsini Goodrich & Rosati, while Gibson, Dunn & Crutcher is advising Concentra Biosciences.

https://ih.advfn.com/market-news/article/11899/igm-biosciences-shares-surge-on-takeover-agreement-with-concentra

$IGMS

IGMS under $2

IGMS under $2

IGMS, under $2

IGMS under $10

IGMS under $10

Truist Reiterates Buy Rating, $80 Price Target.

Let's see if IGMS gets FDA phase I,II,III, approvals . Sanofi believes it'll happen.

14M float!

Tons of cash going forward > IGM Biosciences, Inc. (NASDAQ: IGMS) today announced that it intends to offer and sell $200.0 million 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. In addition, IGM intends to grant the underwriters a 30-day option to purchase up to an additional $30.0 million of shares at the public offering price, less underwriting discounts and commissions. All of the securities offered in the offering will be sold by IGM. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
J.P. Morgan, BofA Securities, Stifel, and Guggenheim Securities are acting as joint book-running managers for the offering.

https://ih.advfn.com/stock-market/NASDAQ/igm-biosciences-IGMS/stock-news/87682546/igm-announces-proposed-public-offering

https://www.wsgr.com/print/v2/content/185066/Firm-Advises-IGM-Biosciences%2C-Inc.-on-%24230-Million-Public-Offering.pdf