Bookrunner Leerink Swann helps fund clinical trials, working capital
By Devika Patel
Knoxville, Tenn., Jan. 31 - KaloBios Pharmaceuticals, Inc. said it priced its $70 million initial public sale of stock with a $10.5 million greenshoe. It expects the shares to trade on the Nasdaq under the symbol "KBIO." The deal was announced Oct. 5.
The company will sell 8.75 million common shares at $8.00 per share.
Leerink Swann LLC is the sole bookrunning manager.
Proceeds will be used to develop and advance product candidates through clinical trials, as well as for working capital and general corporate purposes.
The biopharmaceutical company is based in San Francisco.
| Issuer: | KaloBios Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $70 million
|
| Greenshoe: | $10.5 million
|
| Shares: | 8.75 million
|
| Price: | $8.00
|
| Warrants: | No
|
| Bookrunner: | Leerink Swann LLC
|
| Manager: | William Blair & Co., LLC (lead)
|
| Co-manager: | Needham & Co. LLC
|
| Announcement date: | Oct. 5
|
| Pricing date: | Jan. 31
|
| Stock exchange: | Nasdaq: KBIO
|
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