Benzinga | Jul 22, 2020 05:45AM EDT

Kiniksa Pharmaceuticals Prices 5.9M Share Upsized Public Offering @$21/Share

Kiniksa Pharmaceuticals, Ltd. (NASDAQ:KNSA) ("Kiniksa," "we," and "our") announced today the pricing of its public offering of 5,952,381 Class A common shares at a public offering price of $21.00 per share, before underwriting discounts and commissions. The gross proceeds to Kiniksa from this offering, together with the proceeds of the sale of 1,428,572 Class A1 common shares in a concurrent private placement under Section 4(a)(2) of the Securities Act of 1933, before fees and estimated expenses, are expected to be approximately $155.0 million. In addition, Kiniksa has granted the underwriters a 30-day option to purchase up to 892,857 additional Class A common shares at the public offering price, less underwriting discounts and commissions. The public offering is expected to close on July 24, 2020, subject to customary closing conditions. All of the Class A common shares are being offered by Kiniksa.

Kiniksa intends to use the net proceeds from the public offering and the concurrent private placement to advance the development of its product candidates, to advance commercialization activities and to fund other research and development activities as well as for working capital and general corporate purposes.

Goldman Sachs & Co. LLC, BofA Securities and J.P. Morgan Securities LLC are acting as joint book-running managers for the public offering. Wedbush Securities Inc. is acting as co-manager for the public offering.