I-Mab Prices IPO At $14.00/ADS, Within Estimated $12 To $15/ADS Range

(RTTNews) - Shanghai, China-based I-Mab said that it has priced its initial public offering of 7.41 million American Depositary Shares at $14.00 per ADS, within its previously estimated range of $12.00 to $15.00 per ADS.

The ADSs will begin trading on January 17, 2020 on the Nasdaq Global Market under the symbol "IMAB".

The company has granted the underwriters an option to purchase up to an additional 1.11 million ADSs within 30 days from the date of the final prospectus at $14.00 per ADS.

The company expects that the total gross proceeds from the offering to be about $103.70 million, assuming the underwriters do not exercise their option to purchase additional ADSs, or about $119.26 million, if the underwriters choose to exercise their option to purchase additional ADSs in full.

I-Mab is a clinical stage biopharmaceutical company developing novel or highly differentiated biologics to treat diseases with significant unmet medical needs, particularly cancers and autoimmune disorders.