By Devika Patel
Knoxville, Tenn., Feb. 25 - Kamada said it arranged a NIS 28.84 million registered private placement of shares with its board chairman Ralf Hahn and UDT Med Holdings LLC.
The company will sell 2,621,723 common shares at NIS 11.00 per share.
The investors also will receive 40% warrant coverage.
Settlement is expected March 31.
Kamada intends to use the proceeds to advance its clinical pipeline.
Kamada is a Rehovot, Israel-based biopharmaceutical company that develops, produces and markets pharmaceuticals administered by infusion during emergency and trauma situations.
| Issuer: | Kamada
|
| Issue: | Common stock
|
| Amount: | NIS 28,838,953
|
| Shares: | 2,621,723
|
| Price: | NIS 11.00
|
| Warrants: | 40% coverage
|
| Investor: | Ralf Hahn and UDT Med Holdings LLC
|
| Pricing date: | Feb. 25
|
| Stock symbol: | Pink Sheets: KAMAF
|
| Stock price: | $9.25 at close Feb. 25
|
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