Shares of Immatics climbed after a $150 million offering of the company's shares and warrants priced.

The stock rose 9.6%, to $9.52, on Tuesday. Despite the gain, shares are down 8.9% year to date.

Immatics before the bell said it agreed to sell roughly 12.9 million ordinary shares for $8.69 apiece. In lieu of ordinary shares, the company will sell pre-funded warrants to purchase about 4.32 million ordinary shares to certain investors, also for $8.69 apiece.

Immatics will also grant underwriters a 30-day option to purchase up to 2.59 million additional shares at the public offering price, minus an underwriting discount.

Jefferies, Leerink Partners and Cantor are acting as joint book-running managers for the offering, which is expected to close Wednesday.