Actionable news
0
All posts from Actionable news
Actionable news in KIN: KINDRED BIOSCIENCES Inc,

KindredBio Announces Pricing of Public Offering

SAN FRANCISCO, July 12, 2017 /PRNewswire/ -- Kindred Biosciences, Inc. (NASDAQ: KIN), a biopharmaceutical company focused on saving and improving the lives of pets, today announced the pricing of an underwritten public offering of 3,000,000 shares of its common stock at a public offering price of $7.50 per share, for a total offering amount of $22.5 million before deducting underwriting discounts and commissions and estimated offering expenses payable by KindredBio. KindredBio has granted to the underwriters a 30-day option to purchase up to an additional 450,000 shares of its common stock. All of the shares are being offered by KindredBio.

The offering is expected to close on July 17, 2017, subject to satisfaction of customary closing conditions.

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., is acting as sole book-running manager and Aegis Capital Corp. is acting as the lead manager.

KindredBio intends to use the net proceeds from the offering, if completed, for the expansion of its commercial infrastructure in anticipation of future product approvals and launches, for expansion of its manufacturing capacity, the development of its therapeutic candidates, and for other general corporate and working capital purposes.

The shares are being offered pursuant to an effective shelf registration statement on Form S-3, as amended (File No. 333-201553), that was previously filed with the Securities and Exchange Commission (SEC) and declared effective on January 30, 2015. A prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. When available, the prospectus supplement and accompanying prospectus may also be obtained by contacting Ladenburg Thalmann, 277 Park Avenue, 26th Floor, New York, NY 10172 or by email at prospectus@ladenburg.com.

This press...


More