Kezar Life Sciences, Inc. has announced the pricing of an underwritten public offering of 16,115,385 shares of its common stock, and to certain investors in lieu thereof, pre-funded warrants to purchase 2,884,615 shares of its common stock at an exercise price of $0.001 per share.
Kezar Life Sciences, Inc. (Nasdaq: KZR), a clinical-stage biotechnology company discovering and developing novel small molecule therapeutics to treat unmet needs in autoimmune disease and cancer, has announced the pricing of an underwritten public offering of 16,115,385 shares of its common stock, and to certain investors in lieu thereof, pre-funded warrants to purchase 2,884,615 shares of its common stock at an exercise price of $0.001 per share. The public offering price of each share of common stock is $2.60 and the public offering price of each pre-funded warrant is $2.599. In addition, Kezar has granted the underwriters a 30-day option to purchase additional shares of common stock of up to 15% of the aggregate number of shares of common stock plus the shares of common stock underlying the pre-funded warrants being offered in the offering. The offering is expected to close on February 4, 2020, subject to customary closing conditions.
Latham & Watkins LLP represents the underwriters in the transaction with a corporate team led by Bay Area partner Brian Cuneo and Orange County partner Shayne Kennedy with San Diego associates Jeff Woodley and Alisa Lalana. Advice was also provided on intellectual property matters by Bay Area partner Judith Hasko with associate Gavin Liu; and on regulatory matters by Washington, D.C. partner John Manthei with Bay Area counsel Betty Pang and San Diego associate Amy Speros and Washington, D.C. associate Barrett Tenbarge.
