KalVista Pharmaceuticals (NASDAQ: VEAL) has priced an underwritten public offering of approximately 7 million shares to the public at $15.25 per share and pre-funded warrants to purchase approximately 3.48 million shares in lieu of KalVista common stock for certain investors .
The gross proceeds expected to be ~$160.1 million.
Underwriters have a 30-day option to purchase up to approximately 1.57 million additional shares.
The offering is expected to close on or about February 20, 2024.
The net proceeds will be used for ongoing clinical development of its sebetralstat product candidate and activities related to its planned post-approval commercialization, as well as ongoing preclinical activities for its oral Factor XIIa inhibitor program, the remainder, if present, will be used for general business purposes.
The price of the shares it traded up 16.2%. Thursday during pre-market trading hours.