By Devika Patel
Knoxville, Tenn., May 4 - Kamada said it completed a private placement of shares with its board chairman Ralf Hahn and UDT Med Holdings LLC. The deal, which priced Feb. 25, raised approximately $7 million, or NIS 28.84 million.
The company sold 2,621,723 shares at NIS 11.00 per share.
The investors also received 40% warrant coverage.
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: | $7 million (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
|
| Settlement date: | May 4
|
| Stock symbol: | Pink Sheets: KAMAF
|
| Stock price: | $9.25 at close Feb. 25
|
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