Offering's proceeds used for clinical trials, research and development
By Devika Patel
Knoxville, Tenn., June 5 - Kamada Ltd. said the underwriters for its initial public sale of stock opted to exercise the deal's $7.75 million greenshoe in full for total proceeds of $59.39 million. The deal was announced April 11 and priced for $51.64 million with the greenshoe on May 31.
The company sold 6,420,031 ordinary shares at $9.25 per share. Of the shares, 837,395 were part of the fully exercised greenshoe.
Morgan Stanley & Co. LLC and Jefferies LLC were 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: | $59,385,287 (including $7,745,904 greenshoe)
|
| Shares: | 6,420,031
|
| 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
|
| Settlement date: | June 5
|
| Stock symbol: | Nasdaq: KMDA
|
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