Kadmon (KDMN) Prices 26M Share Common Offering at $3.40/Sh

Kadmon Holdings, Inc. (NYSE: KDMN) today announced the pricing of an offering of 26,000,000 shares of its common stock at a public offering price of $3.40 per share in an underwritten offering (the "Offering"). The gross proceeds to Kadmon from the Offering, before deducting underwriting discounts and commissions and other estimated expenses payable by Kadmon, are expected to be $88.4 million. In addition, Kadmon has granted the underwriters in the Offering a 30-day option to purchase up to an additional 3,900,000 shares of Kadmon's common stock on the same terms and conditions as the shares offered in the Offering. The Offering is expected to close on November 18, 2019, subject to customary closing conditions.

Jefferies LLC and Cantor Fitzgerald & Co. are acting as joint book-running managers for the Offering. H.C. Wainwright & Co., LLC and Oppenheimer & Co. Inc. are acting as co-lead managers for the Offering and Nomura Securities International, Inc. is acting as co-manager for the Offering.

Kadmon intends to use the net proceeds from the Offering for the clinical development of its lead product candidates, discovery, research and preclinical studies of its other product candidates, and other general corporate purposes.

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