CEO Shkreli, directors Moradi, Biestek, Harrison, Fernandez to partake
By Devika Patel
Knoxville, Tenn., Dec. 9 – KaloBios Pharmaceuticals, Inc. arranged a $15 million private placement of stock on Dec. 3, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 511,596 common shares at $29.32 per share. The price per share is a 5.33% discount to the Dec. 2 closing share price of $30.97.
Company chairman and chief executive officer Martin Shkreli and board members David Moradi, Marek Biestek, Michael Harrison and Tom Fernandez will participate in the deal.
Settlement was expected on Wednesday.
The company will use the proceeds for an acquisition and to advance its pipeline of drug candidates.
The biopharmaceutical company is based in San Francisco.
| Issuer: | KaloBios Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $15 million
|
| Shares: | 511,596
|
| Price: | $29.32
|
| Warrants: | No
|
| Investors: | Martin Shkreli, David Moradi, Marek Biestek, Michael Harrison and Tom Fernandez
|
| Announcement date: | Dec. 9
|
| Pricing date: | Dec. 3
|
| Settlement date: | Dec. 9
|
| Stock symbol: | Nasdaq: KBIO
|
| Stock price: | $30.97 at close Dec. 2
|
| Market capitalization: | $126.36 million
|
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