Kamada Announces US$25 Million Private Placement

Kamada (NASDAQ:KMDA,TASE:KMDA) has entered into a securities purchase agreement with Israeli FIMI Opportunity Funds (FIMI) to purchase US$25 million of its ordinary shares in a private placement.

As quoted on the press release:

No placement agent fees will be incurred by the Company in connection with the transaction.

Under the terms of the agreement, Kamada will issue an aggregate of 4,166,667 ordinary shares to FIMI at a price of $6.00 per share (which represents a discount of approximately eight percent to the closing price of the Company’s shares on NASDAQ on January 17, 2020, and a discount of approximately 5.5% to the last three months average closing price of the Company’s shares on NASDAQ). Upon the closing of the transaction, FIMI will beneficially own approximately 21% of Kamada’s outstanding ordinary shares.

Click here to read the full press release.