Impel NeuroPharma Announces Launch of Proposed Public Offering

Rhea-AI Summary

Impel NeuroPharma (NASDAQ: IMPL) has announced a public offering of 3,000,000 shares of its common stock, with an additional 450,000 shares available to underwriters. The offering is managed by Cowen and Guggenheim Securities, with Wedbush PacGrow as lead manager. The funds from this offering are aimed at supporting the company's development of therapies for central nervous system diseases. The registration statement has been filed with the SEC but is not yet effective, meaning no sales can occur until it is approved.

Positive

• Funds will support development of transformative therapies.
• Focus on treating central nervous system diseases with high unmet needs.

Negative

• Dilution of existing shares for current shareholders if additional shares are issued.

SEATTLE, Sept. 07, 2021 (GLOBE NEWSWIRE) -- Impel NeuroPharma, Inc. (NASDAQ: IMPL), a commercial-stage biopharmaceutical company developing transformative therapies for people suffering from diseases with high unmet medical needs, with an initial focus on the central nervous system, today announced that it has commenced an underwritten public offering of 3,000,000 shares of its common stock. All of the shares of common stock are being offered by Impel. In addition, Impel intends to grant the underwriters a 30-day option to purchase up to an additional 450,000 shares of common stock at the offering price, less underwriting discounts and commissions.

Cowen and Guggenheim Securities are acting as joint bookrunning managers for the proposed offering. Wedbush PacGrow is acting as lead manager.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the offering may be obtained from: Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (833) 297-2926 or by email at PostSaleManualRequests@broadridge.com; or Guggenheim Securities, LLC Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017 or by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

A registration statement relating to the proposed sale of these securities has been filed with the Securities and Exchange Commission (SEC) but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Impel NeuroPharma:

Impel NeuroPharma, Inc. is a commercial-stage biopharmaceutical company developing transformative therapies for people suffering from diseases with high unmet medical needs, with an initial focus on the central nervous system. Impel offers and is developing treatments that pair its proprietary Precision Olfactory Delivery (POD^®) technology with well-established therapeutics. In addition to TRUDHESA™ (dihydroergotamine mesylate) nasal spray, which is approved in the United States for the acute treatment of migraine with or without aura in adults, Impel is also developing INP105 for the acute treatment of agitation and aggression in patients with autism, and INP107 for OFF episodes in Parkinson’s disease.

Cautionary Note on Forward-Looking Statements

This press release contains “forward-looking” statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the terms of the proposed public offering, including Impel’s expectations with respect to granting the underwriters a 30-day option to purchase additional shares, and the completion, timing and size of the proposed public offering. Forward-looking statements can be identified by words such as: “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “plan,” “expect” or the negative or plural of these words or similar expressions. These statements are subject to numerous risks and uncertainties that could cause actual results and events to differ materially from those anticipated. Many of these risks are described in greater detail in Impel’s filings with the SEC. Any forward-looking statements in this press release speak only as of the date of this press release. Impel assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

Contact

Investor Relations:
Christina Tartaglia
Stern Investor Relations
Phone: (1) 212-362-1200
Email: christina.tartaglia@sternir.com

Media Relations:
Melyssa Weible
Elixir Health Public Relations
Phone: (1) 201-723-5805
Email: mweible@elixirhealthpr.com

FAQ

What is the purpose of Impel NeuroPharma's stock offering?

The stock offering aims to raise funds to support the development of therapies for central nervous system diseases.

How many shares is Impel NeuroPharma offering?

Impel NeuroPharma is offering 3,000,000 shares, with an option for underwriters to purchase an additional 450,000 shares.

Who is managing the stock offering for Impel NeuroPharma?

The offering is managed by Cowen and Guggenheim Securities, with Wedbush PacGrow as lead manager.

When will the stock offering for IMPL become effective?

The offering registration statement has been filed with the SEC but has not yet become effective, meaning sales cannot occur until it is approved.

What are the risks associated with Impel NeuroPharma's stock offering?

One risk is the potential dilution of existing shares if additional shares are issued during the offering.