PALO ALTO, Calif., Nov. 17, 2020 /PRNewswire/ -- Kodiak Sciences
Inc. (Nasdaq: KOD), a biopharmaceutical company committed to
researching, developing and commercializing transformative
therapeutics to treat high prevalence retinal diseases, today
announced the pricing of an underwritten public offering of
5,193,237 shares of its common stock at a price to the public of
$108.00 per share. The aggregate
gross proceeds from the offering are expected to be approximately
$560.9 million, before deducting the
underwriting discounts and commissions and estimated offering
expenses payable by Kodiak Sciences. The offering is expected to
close on or about November 20, 2020,
subject to customary closing conditions. In addition, Kodiak
Sciences has granted the underwriters a 30-day option to purchase
up to an additional 778,985 shares of its common stock at the
public offering price, less underwriting discounts and
commissions.
J.P. Morgan, Morgan Stanley, Jefferies and Evercore ISI are
acting as joint book-running managers for the proposed offering.
Truist Securities is acting as lead manager for the proposed
offering.
The shares described above are being offered by Kodiak Sciences
pursuant to an effective shelf registration statement on Form S-3,
including a base prospectus, that was previously filed by Kodiak
Sciences with the Securities and Exchange Commission (the "SEC"). A
final prospectus supplement and accompanying prospectus 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. Copies of the
final prospectus supplement and the accompanying prospectus
relating to the offering, when available, may be obtained from:
J.P. Morgan Securities LLC, Attention: Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at
866-803-9204 or by email at prospectus-eq_fi@jpmchase.com; Morgan
Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, New
York 10014 or by email at prospectus@morganstanley.com;
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York,
NY 10022, by telephone at (877) 821-7388, or by email at
Prospectus_Department@Jefferies.com; or Evercore Group L.L.C.,
Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor,
New York, NY 10055, by telephone
at (888) 474-0200, or by email at ecm.prospectus@evercore.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 under the securities laws of any such state or
jurisdiction.
About Kodiak Sciences Inc.
Kodiak (Nasdaq: KOD) is a biopharmaceutical company committed to
researching, developing and commercializing transformative
therapeutics to treat high prevalence retinal diseases. Founded in
2009, we are focused on bringing new science to the design and
manufacture of next generation retinal medicines to prevent and
treat the leading causes of blindness globally. Kodiak's lead
product candidate, KSI-301, is a novel anti-VEGF antibody
biopolymer conjugate being developed for the treatment of retinal
vascular diseases including age-related macular degeneration, a
leading cause of blindness in elderly patients, and diabetic eye
diseases, a leading cause of blindness in working-age patients.
Kodiak®, Kodiak Sciences®, ABC™, ABC Platform™ and the Kodiak
logo are registered trademarks or trademarks of Kodiak Sciences
Inc. in various global jurisdictions.
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SOURCE Kodiak Sciences Inc.