2023-05-24 12:10:27 ET
- Kamada ( NASDAQ: KMDA ) stock rose ~12% on Wednesday after the company said a major shareholder and private equity firm FIMI Opportunity Funds will buy $60M worth of its ordinary shares in a private placement.
- Under the agreement, Kamada will issue ~12.6M ordinary shares to FIMI at $4.75 per share.
- Upon the closing of the transaction, Israel-based FIMI is expected to own ~38% of Kamada's outstanding ordinary shares and will become a controlling shareholder of the company.
- The company plans to use the funds for its growth plans and execution of strategic business development opportunities.
- The placement is is subject to conditions, including shareholder and regulatory approvals.
- An extraordinary general meeting to approve the transaction is expected to be held in August, following the company’s release of Q2 results.
For further details see:
FIMI Opportunity to take ~38% stake in Kamada with $60M stock buy