Kite Pharma increases proposed deal size to $120 million, raising price range to $15-$16

By Renaissance Capital,

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Kite Pharma, a biotech developing cancer immunotherapies with the National Cancer Institute, raised the proposed deal size for its upcoming IPO on Thursday. The Santa Monica, CA-based company now plans to raise $116 million by offering 7.5 million shares at a price range of $15 to $16. The company had previously filed to offer 6.0 million shares at a range of $12 to $14. At the high end of the revised range, Kite Pharma would raise 54% more than previously anticipated. Kite Pharma, which was founded in 2009, plans to list on the NASDAQ under the symbol KITE. Kite Pharma initially filed confidentially on 4/4/2014. Jefferies & Co., Credit Suisse and Cowen & Company are the joint bookrunners on the deal. It is expected to price tonight.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: KITE

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