Kala Pharmaceuticals Announces Exercise of Underwriters’ Option to Purchase Additional Shares
April 03 2020 - 4:01PM
Business Wire
Kala Pharmaceuticals, Inc. (“Kala”) (NASDAQ:KALA) today
announced that the underwriters of its previously announced
underwritten public offering of common stock, which closed on March
13, 2020, have exercised a portion of their option to purchase
additional shares of common stock at the public offering price,
less underwriting discounts and commissions. After giving effect to
the sale of 979,371 additional shares of common stock in the option
closing, the total number of shares of common stock sold by Kala in
the offering increased to 16,979,371 shares, which resulted in
aggregate gross proceeds of approximately $134.0 million to Kala,
before deducting underwriting discounts and commissions and
offering expenses.
J.P. Morgan, BofA Securities and Jefferies acted as joint
bookrunning managers for the offering. Wedbush PacGrow, Oppenheimer
& Co. and H.C. Wainwright & Co. acted as co-managers for
the offering.
The shares were offered by Kala pursuant to a shelf registration
statement (including a prospectus) that was previously filed with
and declared effective by the U.S. Securities and Exchange
Commission. Copies of the final prospectus supplement and
accompanying prospectus relating to this offering may be obtained
from: J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by
telephone at (866) 803-9204; BofA Securities, Inc., NC1-004-03-43,
200 North College Street, 3rd floor, Charlotte, NC 28255-0001,
Attention: Prospectus Department, or by email at
dg.prospectus_requests@bofa.com; or Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by
email at Prospectus_Department@Jefferies.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification of these securities under the securities laws of any
such state or jurisdiction.
About Kala Pharmaceuticals
Kala is a biopharmaceutical company focused on the discovery,
development and commercialization of innovative therapies for
diseases of the eye. Kala has applied its AMPPLIFYTM mucus
penetrating particle Drug Delivery Technology to a corticosteroid,
loteprednol etabonate (LE), designed for ocular applications,
resulting in the January 2019 launch of INVELTYS® (loteprednol
etabonate ophthalmic suspension) 1% and its investigational product
candidate, EYSUVISTM (loteprednol etabonate ophthalmic suspension)
0.25%, which is being studied for the temporary relief of the signs
and symptoms of dry eye disease.
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Investors Hannah Deresiewicz
hannah.deresiewicz@sternir.com 212-362-1200
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