Impel NeuroPharma Announces Pricing of $80.0 Million Initial Public Offering

Rhea-AI Summary

Impel NeuroPharma, a late-stage pharmaceutical company, has announced its initial public offering (IPO) pricing at $15.00 per share for a total of 5,333,334 shares. The offering, expected to raise $80 million, will trade on Nasdaq under the symbol "IMPL" starting April 23, 2021. The shares are set to close by April 27, 2021, pending customary closing conditions. Additionally, underwriters have a 30-day option to purchase 800,000 extra shares. Proceeds are intended for advancing Impel's CNS therapies, including TRUDHESA for migraine treatment.

Positive

• IPO priced at $15.00 per share, raising approximately $80 million.
• Funds will support the advancement of CNS therapies, including TRUDHESA for migraines.

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• None.

SEATTLE, April 22, 2021 (GLOBE NEWSWIRE) -- Impel NeuroPharma, Inc. (Impel), a late-stage pharmaceutical company focused on utilizing its proprietary technology to develop and commercialize transformative therapies for patients suffering from diseases with high unmet medical needs, today announced the pricing of its initial public offering of 5,333,334 shares of its common stock at a price to the public of $15.00 per share. All of the shares are being offered by Impel. The shares are expected to begin trading on The Nasdaq Global Market on April 23, 2021 under the symbol “IMPL.” The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Impel, are expected to be $80.0 million. In addition, Impel has granted the underwriters a 30-day option to purchase up to an additional 800,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on April 27, 2021, subject to the satisfaction of customary closing conditions.

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

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on April 22, 2021. The offering is being made only by means of a prospectus. A copy of the final prospectus relating to the offering, when available, 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.

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 late-stage pharmaceutical company focused on utilizing its proprietary technology to develop and commercialize transformative therapies for people suffering from diseases with high unmet needs, with an initial focus on diseases of the CNS. The Company’s strategy is to rapidly advance its product candidate pipeline that pairs its proprietary Precision Olfactory Delivery (POD®) system with well-established therapeutics, including TRUDHESA™ for the acute treatment of migraine, INP105 for the acute treatment of agitation and aggression in patients with autism, and INP107 for OFF episodes in Parkinson’s disease.

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 IPO price for Impel NeuroPharma's shares?

Impel NeuroPharma's shares are priced at $15.00 per share.

When will Impel NeuroPharma's shares begin trading?

The shares are expected to begin trading on April 23, 2021.

How much is Impel NeuroPharma raising from its IPO?

Impel NeuroPharma expects to raise approximately $80 million from its IPO.

What is the stock symbol for Impel NeuroPharma?

The stock symbol for Impel NeuroPharma is "IMPL".

When will the IPO for Impel NeuroPharma close?

The IPO is scheduled to close on April 27, 2021.