Institutions were pleased with the offering | IMGN Message Board Posts

ImmunoGen, Inc.

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Msg  50303 of 50379  at  1/23/2020 6:25:43 PM  by

Bibliobiftek


 In response to msg 50302 by  erniewerner
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Re: Institutions were pleased with the offering

In addition to the offering clearing the way for Immunogen to reach a low hurdle trial result that could garner FDA approval, it's entirely possible the book runners shorted the stock in December in anticipation of this offering and are covering with the shares on offer this week. The up-sized offering ($75mm to $90mm) also showed higher demand than anticipated for shares of this low trading volume stock when institutions were given a discount and allowed to buy in volume without affecting open market pricing; this left those without access to the offering in the lurch and scrambling to cover today.
 
Just speculation though.
 
 


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