Re: More possible dilution
No I dont think you are missing anything and you are right about this.
I went back over the Agreement more carefully and they are very specific that "the Company may issue and sell shares of its common stock from time to time... The company has no obligation to sell any of the Common Stock and may at any time suspend offers under the Same Agreement or terminate the Sale Agreement... Jefferies will use its commercially reasonable efforts to sell the Common Stock from time to time, as the sales agent, based upon the Company’s instructions."
3% commission on 100M. Not bad for a days work.
Sounds like a back up plan to raise cash in case the current $200M coffer runs dry. How much effect will this potential sale have on IMGN stock price?