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DARTMOUTH, Nova Scotia, & CAMBRIDGE, Mass. — IMV Inc. (“IMV“or the”Company”) (Nasdaq: IMV; TSX: IMV), a clinical-stage company developing a portfolio of immune-educating therapies based on its novel DPX® solid and hematological cancer treatment platform, today announced that it plans to maintain its existing go-to-market facility originally announced on October 16, 2020 under its recently renewed base shelf prospectus, which is effective for a period of 25 months commencing July 25, 2022. IMV has entered into a Share Distribution Agreement (the “AED”) dated August 4, 2022 with Piper Sandler & Co. (“Piper Sandler“) under which the Company may from time to time sell through “in-the-market” offerings (the “ATM offer“), with Piper Sandler acting as sales agent, on the Nasdaq Capital Markets (the “Nasdaq”) the number of Common Shares having an aggregate offering price of up to US$50 million under the ATM Prospectus Supplement (as defined below).
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The ATM offering will be made by means of a prospectus supplement (the “ATM Prospectus Supplement”) to the Company’s Canadian final base shelf prospectus dated July 22, 2022 and the Company’s United States final base shelf prospectus set forth in the Company’s United States registration statement on Form F-10 dated July 25, 2022 , as amended (File No. 333-266082) (the “Registration statement”). The registration statement is effective upon filing with the United States Securities and Exchange Commission (the “SECOND”) on July 25, 2022. The ATM Prospectus Supplement has been filed with the Nova Scotia Securities Commission, as principal regulator in Canada, and in the United States with the SEC. The Common Shares issuable by the Company pursuant to the ATM Offering have been conditionally approved for listing on the Toronto Stock Exchange (“TSX”) and required notices related to the ATM offering have also been filed with Nasdaq. To obtain approval for listing on the TSX, the Company has relied on the “Qualifying Interlisted Issuer” exemption from the TSX Rules under Section 602.1 of the TSX Company Handbook.
Piper Sandler, at the discretion and direction of IMV, will from time to time use its commercially reasonable efforts to sell the Common Shares at market prices. No offer or sale of Common Shares will be made in Canada or through the facilities of the TSX or any other stock exchange in Canada.
The Company expects to use the net proceeds from the ATM offering for general corporate purposes, including but not limited to working capital expenditures, capital expenditures, research and development expenditures and clinical trial expenses.
Copies of the ATM Prospectus Supplement and accompanying definitive base shelf prospectus relating to the Common Shares offered may be obtained free of charge from the offices of Piper Sandler & Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by phone at (800) 747-3924 or by email at email@example.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, and there will be no sale of these common shares in any jurisdiction in which an offer, solicitation or sale would be unlawful before registration or qualifications under the securities laws of such jurisdiction.
IMV Inc. is a clinical-stage immuno-oncology company offering a portfolio of therapies based on the company’s immune education platform, DPX®.
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IMV forward-looking statements
This press release contains forward-looking information under applicable securities laws. All information that addresses activities or developments that we expect to occur in the future is forward-looking information. Forward-looking statements use words such as “will”, “may”, “potential”, “believe”, “expect”, “continue”, “anticipate” and other similar terms. Forward-looking statements are based on management’s estimates and opinions as of the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements about possible sales of common stock, statements about how the Company intends to use proceeds from the sale of shares and statements regarding the evaluation and development of MVP-S and DPX-SurMAGE, the Company’s ability to advance its development strategy, and the outlook, for its lead immunotherapy and other pipelines immunotherapy candidates. However, such statements should not be taken as a representation that any of the plans will be realized. Actual results may differ materially from those indicated in this press release due to risks affecting the Company, including access to capital, the successful design and completion of clinical trials and the timely receipt of all approvals. regulations to begin, then continue, clinical studies. and testing and receipt of all regulatory approvals to market its products. IMV assumes no responsibility to update the forward-looking statements in this press release, except as required by law. These forward-looking statements involve known and unknown risks and uncertainties, and such risks and uncertainties include, but are not limited to, the Company’s ability to successfully sell common stock under the proposed offering; the company’s expected timeline associated with its cash trail; the Company’s priorities with MVP-S and its DPX-SurMAGE, the potential of its delivery platform and the expected timing of recruitment and results for its clinical trial programs and studies, and other detailed risks of from time to time in the Company’s current quarterly filings and its current Annual Information Form. Investors are cautioned not to rely on these forward-looking statements and are encouraged to read IMV’s continuous disclosure documents, including its current Annual Information Form, as well as its audited annual consolidated financial statements which are available on SEDAR at www. .sedar.com and on EDGAR at www.sec.gov/edgar.
Irina Koffler, Managing Director, LifeSci Advisors
Phone: (646) 970-4681
M: (917) 734-7387
Delphine Davan, Senior Director, Communications and Investor Relations, IMV Inc.
M: (514) 968 1046
Madeline Joanis, Senior Account Manager, LifeSci Communications
M: (603) 479 5267