Offering has $7.88 million greenshoe, funds research and development
By Devika Patel
Knoxville, Tenn., Dec. 12 - Kindred Biosciences, Inc. priced its $52.5 million initial public offering of stock with a $7.88 million greenshoe, according to a prospectus filed Wednesday with the Securities and Exchange Commission.
The company will sell 7.5 million common shares at $7.00 apiece.
BMO Capital Markets and Guggenheim Securities are the joint bookrunning managers.
Settlement is expected Dec. 17.
Proceeds will be used for research and development of product candidates, to establish commercial infrastructure and for other general corporate and working capital purposes.
The biopharmaceutical company is based in Burlingame, Calif. It expects the shares to trade on the Nasdaq under the symbol "KIN."
| Issuer: | Kindred Biosciences, Inc.
|
| Issue: | Common stock
|
| Amount: | $52.5 million
|
| Greenshoe: | $7,875,000
|
| Shares: | 7.5 million
|
| Price: | $7.00
|
| Warrants: | No
|
| Bookrunners: | BMO Capital Markets and Guggenheim Securities
|
| Co-manager: | Roth Capital Partners
|
| Pricing date: | Dec. 11
|
| Settlement date: | Dec. 17
|
| Stock exchange: | Nasdaq: KIN
|
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