KLDO - Underwriters exercise option for additional shares in Kaleido public offering

Kaleido Biosciences ([[KLDO]] +13.4%) announces that, in connection with its recent public offering, the underwriters have fully exercised their option to purchase an additional 787.5K shares.The exercise of the option increases the size of the offering to an aggregate of 6M shares at a price of $11.50 per share. The gross proceeds were about $69.4M.Kaleido intends to use the net proceeds, in addition to its existing cash resources, to fund its continued research and development activities, including the completion of the ongoing clinical studies of KB109 in patients with mild-to-moderate COVID-19, among other things.Morgan Stanley and Piper Sandler acted as joint book-running managers for the offering, while Canaccord Genuity acted as lead manager.

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Underwriters exercise option for additional shares in Kaleido public offering