KalVista Pharmaceuticals Announces Pricing of a $55 Million Underwritten Offering of Common Stock and Concurrent Private Placement of $5 Million

KALV 11.04.2024

Full Press ReleaseSEC FilingsOur KALV Tweets

About Gravity Analytica

Recent News

  • 01.21.2025 - KalVista Announces Orphan Drug Designation and NDA Submission for Sebetralstat in Japan for Hereditary Angioedema
  • 01.08.2025 - KalVista Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
  • 01.07.2025 - Stacy Ku

Recent Filings

  • 01.16.2025 - S-8 Securities to be offered to employees in employee benefit plans
  • 12.16.2024 - 8-K Current report
  • 12.16.2024 - EX-99.1 EX-99.1

CAMBRIDGE, Mass.&SALISBURY, England--(BUSINESS WIRE)--Nov. 4, 2024--KalVista Pharmaceuticals, Inc.(Nasdaq: KALV) (“KalVista”) today announced the pricing of an underwritten offering of 5,500,000 shares of its common stock at a price of$10.00per share to certain investors (the “Offering”). The gross proceeds toKalVistafrom the Offering are expected to be$55 million, before deducting underwriting discounts, commissions and other offering expenses payable byKalVista.

Concurrently with the Offering,KalVistahas entered into a securities purchase agreement withDRI Healthcare Acquisitions LP(“DRI”), an accredited investor affiliated with DRI Healthcare Trust, pursuant to whichKalVistaagreed to offer and sell and DRI agreed to purchase 500,000 shares ofKalVistacommon stock in a private placement (the “Private Placement”) at a price per share equal to that of the public offering price. Gross proceeds toKalVistaare expected to be$5 million, before deducting fees to the placement agents and other offering expenses payable byKalVista. The common stock sold in the Private Placement will not be registered as part of the Offering. The consummation of the Offering and the Private Placement are not contingent upon each other.

KalVistaintends to use the net proceeds from the Offering and the Private Placement, along with the proceeds from our previously announced synthetic royalty transaction and existing cash and cash equivalents, to fund the continued clinical development of its product candidate sebetralstat and activities related to its planned commercialization following approval. The remainder of the net proceeds, if any, will be used for general corporate purposes.

All of the shares of common stock are being offered byKalVista. The Offering and Private Placement are expected to close onNovember 5, 2024, subject to the satisfaction of customary closing conditions.

Jefferies,BofA Securities,TD Cowenand Stifel are acting as the joint book-running managers for the Offering and as the joint placement agents for the Private Placement.

Jones is acting as financial advisor for the Offering.

The Offering is being made pursuant to a shelf registration statement (File No. 333-280759) on Form S-3 that was filed byKalVistawith theSecurities and Exchange Commission(“SEC”) onJuly 11, 2024and declared effective by theSEConJuly 19, 2024. A prospectus supplement and accompanying prospectus relating to and describing the terms of the Offering was filed with theSECand is available on the SEC’s website atwww.sec.gov. A copy of the prospectus supplement relating to the Offering, when available, may be obtained by contactingJefferies LLC, Attention:Equity Syndicate Prospectus Department,520 Madison Avenue,New York, New York10022, by telephone at 877-821-7388 or by email atProspectus_Department@Jefferies.com;BofA Securities, NC1-0220-02-25, Attention: Prospectus Department,201 North Tryon Street,Charlotte, North Carolina28255-0001, or by email atdg.prospectus_requests@bofa.com;TD Securities (USA) LLC,1 Vanderbilt Avenue,New York, New York10017, by telephone at (855) 495-9846, or by email atTD.ECM_Prospectus@tdsecurities.com; orStifel, Nicolaus & Company, Incorporated, Attention: Syndicate,One Montgomery Street, Suite 3700,San Francisco, California94104, by telephone at (415) 364-2720 or by email atsyndprospectus@stifel.com. Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the SEC’s website atwww.sec.gov.

The securities being issued and sold in the Private Placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state’s securities laws, and are being issued and sold in reliance on Section 4(a)(2) of the Securities Act promulgated thereunder. The securities may not be offered or sold inthe United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities ofKalVista, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

AboutKalVista Pharmaceuticals, Inc.

KalVista Pharmaceuticals, Inc.is a global pharmaceutical company that seeks to develop and deliver oral medicines for diseases with significant unmet need.KalVistais focused on understanding the needs of patients and the limitations of current therapies to design treatments that empower people to better manage their disease and improve their lives. KalVista’s New Drug Application filing for sebetralstat for the on-demand treatment of hereditary angioedema (“HAE”) attacks has been accepted by theU.S. Food and Drug Administrationwith a Prescription Drug User Fee Amendments goal date ofJune 17, 2025. In addition,KalVistahas received validation of its Market Authorization Application (“MAA”) for HAE from theEuropean Medicines Agencyand has submitted MAA applications to regulators in theUnited Kingdom,Switzerland,Australia, andSingapore.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of theU.S.Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein that do not describe historical facts, including, but not limited to, statements regarding KalVista’s expectation of market conditions and the satisfaction of customary closing conditions related to the offering and sale of its securities, the expected proceeds and timing of completion of the Offering and the Private Placement, the expected use of proceeds from the Offering, Private Placement and royalty licensing transaction, and anticipated preclinical and clinical development activities, the timing of clinical trials and announcements of clinical results, and potential benefits of KalVista’s product candidates are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Such risks and uncertainties include, among others, the risks identified in KalVista’s filings with theSEC, the prospectus related to the offering, and subsequent filings with theSEC. Any of these risks and uncertainties could materially and adversely affect KalVista’s results of operations, which would, in turn, have a significant and adverse impact on KalVista’s stock price.KalVistacautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Further information on potential risk factors that could affect KalVista’s business and financial results are detailed in KalVista’s filings with theSEC, including in KalVista’s annual report on Form 10-K for the year endedApril 30, 2024, quarterly reports on Form 10-Q, and other reports made from time to time with theSEC.KalVistaundertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events.

View source version onbusinesswire.com:https://www.businesswire.com/news/home/20241104734173/en/

KalVista Pharmaceuticals, Inc.Jenn SnyderVice President, Corporate Affairs(617) 448-0281jsnyder@kalvista.com

Ryan BakerHead, Investor Relations(617) 771-5001ryan.baker@kalvista.com

Source:KalVista Pharmaceuticals, Inc.

Please be aware that the following content has been generated by an AI system and may contain errors, inconsistencies, or outdated information. It is provided as-is without any warranties or guarantees of accuracy. We strongly recommend using this content as a starting point for further research and consultation with relevant experts or authorities. We disclaim any liability for damages or losses resulting from the use or reliance on this content.Please note that this is a beta version of the Gravity Analytica LLC’s AI Service which isstill undergoing final testing before its official release. Theplatform, its software and all content found on it are provided on an“as is” and “as available” basis. Gravity Analytica LLC does not give any warranties,whether express or implied, as to the suitability or usability of thisservice, webpage, or its software or any of its content.Should you encounter any bugs, glitches, lack of functionality orother problems on the website, please let us know immediately so wecan rectify these accordingly. Your help in this regard is greatlyappreciated! You can write to us at this addressteam@gravityanalytica.com