MacroGenics Prices Public Offering Of 3.53 Mln Shares At $37/shr

(RTTNews) - MacroGenics Inc. (MGNX)announced the pricing of an underwritten public offering of 3.525 million shares of its common stock at a public offering price of $37.00 per share, before underwriting discounts. In addition, MacroGenics has granted the underwriters a 30-day option to purchase up to an additional 528,750 shares of common stock.

Morgan Stanley, Citigroup and Leerink Partners are acting as joint book-running managers of the proposed offering. Stifel is acting as lead manager, and Wedbush PacGrow and Roth Capital Partners are acting as co-managers.

The offering is expected to close on or about July 20, 2015, subject to customary closing conditions.

MacroGenics anticipates the total gross proceeds from the offering, before deducting underwriters' discounts and commissions and estimated offering expenses, will be approximately $130.4 million, excluding any exercise of the underwriters' option to purchase additional shares.

MacroGenics intends to use the proceeds of this offering to fund further expansion of its manufacturing capacity, initial development of the first few of its previously undisclosed immune checkpoint-based product candidates, further investment in the development of its current product pipeline, other research and development programs, in-licensing or acquiring other products or technologies, or for general corporate purposes, including working capital.