KalVista Pharmaceuticals (KALV) Prices 5.375M Share Upsized Common Offering at $36/Sh

February 11, 2021 5:57 AM EST

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KalVista Pharmaceuticals, Inc. (NASDAQ: KALV) today announced the pricing of its upsized underwritten public offering of 5,375,000 shares of its common stock at a price to the public of $36.00 per share. The gross proceeds to KalVista from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by KalVista, are expected to be $193.5 million. In addition, KalVista has granted the underwriters a 30-day option to purchase up to an additional 806,250 shares of common stock in connection with the public offering. All of the shares of common stock are being offered by KalVista. The offering is expected to close on or about February 16, 2021, subject to the satisfaction of customary closing conditions.

Jefferies LLC, Stifel, Nicolaus & Company, Incorporated and Cantor Fitzgerald & Co. are acting as the joint book-running managers for the offering. Needham & Company and Roth Capital Partners are acting as co-managers.

KalVista intends to use the net proceeds from this offering to fund the planned Phase 3 trial of KVD900, the planned Phase 2 trial of KVD824 and continued development of KalVista’s oral Factor XIIa programs. The remainder of the net proceeds, if any, will be used for general corporate purposes.



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