GMDA - Gamida Cell launches $75M financing with Highbridge Capital Management

Gamida Cell (GMDA) sold its $75M of 5.875% exchangeable senior notes due in 2026 to certain funds managed by Highbridge Capital Management.Proceeds along with proceeds of earlier sale of $75M ordinary shares in December 2020 are expected to provide Gamida Cell with sufficient liquidity to fund the company’s operations into the 2H22.These infusions will be used to support manufacturing, regulatory and commercial development activities for omidubicel and to further the preclinical and clinical development of GDA-201."Moreover, these additional funds help us to advance clinical development of GDA-201 by enabling us to file an IND for this product candidate," CEO Julian Adams commented.The notes were sold at 100% of the principal amount and will accrue interest at a rate of 5.875% annually.Note holders can exchange notes for ordinary shares at an initial exchange rate of 56.3063 shares per $1,000 principal amount of notes.

For further details see:

Gamida Cell launches $75M financing with Highbridge Capital Management