DOW JONES23,433.57+779.71 3.44%
S&P 5002,749.98+90.57 3.41%
NASDAQ8,090.90+203.64 2.58%

Kala Pharmaceuticals 16M Share Offering of Common Stock @$7.89/Share

Kala Pharmaceuticals, Inc. ("Kala") (NASDAQ: KALA) announced the pricing of an underwritten public offering of 16,000,000 shares of its common stock at a public offering price of $7.89 per share, before underwriting discounts and commissions.

Benzinga · 03/11/2020 09:17

Kala Pharmaceuticals, Inc. ("Kala") (NASDAQ: KALA) announced the pricing of an underwritten public offering of 16,000,000 shares of its common stock at a public offering price of $7.89 per share, before underwriting discounts and commissions. The offering will result in aggregate gross proceeds of approximately $126.2 million to Kala, before deducting underwriting discounts and commissions and offering expenses. Kala also granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 2,400,000 shares of common stock offered in the public offering at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about March 13, 2020, subject to customary closing conditions.

J.P. Morgan, BofA Securities and Jefferies are acting as joint bookrunning managers for the offering. Wedbush PacGrow, Oppenheimer & Co. and H.C. Wainwright & Co. are acting as co-managers for the offering.