Offering's proceeds used for clinical trials, research and development
By Devika Patel
Knoxville, Tenn., May 31 - Kamada Ltd. said it priced its $51.64 million initial public sale of stock with a $7.75 million greenshoe. The deal was announced April 11. The shares will be listed on the Nasdaq under the symbol "KMDA."
The company will sell 5,582,636 ordinary shares at $9.25 per share.
Morgan Stanley & Co. LLC and Jefferies LLC are the joint bookrunning managers.
Proceeds will be used for clinical trials, research and development for additional AAT indications, expanding distribution capabilities, expanding manufacturing infrastructure and general corporate purposes.
The orphan drug focused, plasma-derived protein therapeutics company is based in Ness Ziona, Israel.
| Issuer: | Kamada Ltd.
|
| Issue: | Ordinary stock
|
| Amount: | $51,639,383
|
| Greenshoe: | $7,745,904
|
| Shares: | 5,582,636
|
| Price: | $9.25
|
| Warrants: | No
|
| Bookrunners: | Morgan Stanley & Co. LLC and Jefferies LLC
|
| Co-managers: | RBC Capital Markets, LLC and Oppenheimer & Co. Inc.
|
| Announcement date: | April 11
|
| Pricing date: | May 31
|
| Stock symbol: | Nasdaq: KMDA
|
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