Kamada Announces $25M Private Placement With FIMI Opportunity Fund; Co. To Issue ~4.17M Shares To FIMI At $6/Share

Kamada Ltd. (NASDAQ & TASE: KMDA), a plasma-derived protein therapeutics company, announced today that it has entered into a securities purchase agreement with FIMI Opportunity Funds (FIMI), the leading private

Benzinga · 01/21/2020 12:03

Kamada Ltd. (NASDAQ & TASE: KMDA), a plasma-derived protein therapeutics company, announced today that it has entered into a securities purchase agreement with FIMI Opportunity Funds (FIMI), the leading private equity investor in Israel, to purchase $25 million of its ordinary shares in a private placement. 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.