Funds to develop, advance product candidates and fund working capital
By Devika Patel
Knoxville, Tenn., Sept. 26 - KaloBios Pharmaceuticals, Inc. priced a $30 million public sale of stock with a $4.5 million greenshoe on Sept. 25, according to an 8-K filed Thursday with the Securities and Exchange Commission. The deal was announced Monday.
The company will sell 7.5 million common shares at $4.00 per share. The price per share is a 26.74% discount to the Sept. 5 closing share price of $5.46.
Leerink Swann LLC is the bookrunning manager.
Settlement is expected Oct. 1.
The company will use the proceeds 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: | $30 million
|
| Greenshoe: | $4.5 million
|
| Shares: | 7.5 million
|
| Price: | $4.00
|
| Warrants: | No
|
| Bookrunner: | Leerink Swann LLC
|
| Co-managers: | William Blair & Co., LLC, Needham & Co. LLC and JMP Securities LLC
|
| Announcement date: | Sept. 23
|
| Pricing date: | Sept. 25
|
| Settlement date: | Oct. 1
|
| Stock symbol: | Nasdaq: KBIO
|
| Stock price: | $5.46 at close Sept. 24
|
| Market capitalization: | $105.35 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
