KALV - KalVista stock dips on $58M stock warrants offering

• KalVista Pharmaceuticals ( NASDAQ: KALV ) is selling common shares and warrants to institutional investors in a registered direct offering to raise gross proceeds of ~$58M.
• The company is selling ~9.48M common shares at $6 per share and 182.47K prefunded warrants at $5.999 for total gross proceeds of ~$58M.
• KalVista plans to use the proceeds to fund clinical trials, commercial sales development, research, working capital, capital expenditures and other general corporate purposes.
• The company noted that with the financing, cash balance and anticipated receipts as of Oct. 31, it now expects to be able to fund operations into 2025.
• The offering is expected to close on Dec. 28
• KALV -3.13% to $4.95 premarket Dec. 27

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