Kamada Announces Shareholder Approval and Planned Closing of $60 Million Private Placement with FIMI Opportunity Funds

• Funding Strengthens Kamada’s Financial Position, Supporting its Growth Plans and the Pursuit of Strategic Business Development Opportunities
• Appointment of Two New Independent Directors to its Board: Professor Benjamin Dekel and Mr. Assaf Itshayek

REHOVOT, Israel and HOBOKEN, N.J., Aug. 30, 2023 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ: KMDA; TASE: KMDA.TA), a commercial stage global biopharmaceutical company with a portfolio of marketed products indicated for rare and serious conditions and a leader in the specialty plasma-derived field, today announced shareholder approval and planned closing of the previously announced $60 million private placement (the “Private Placement”) with FIMI Opportunity Funds (“FIMI”), the leading private equity firm in Israel and a large existing Kamada shareholder.

Under the terms of the Private Placement, Kamada will be issuing an aggregate of approximately 12.6 million ordinary shares to FIMI at a price of $4.75 per share (which represented the average closing price of the Company’s shares on NASDAQ during the 20 trading days prior to the date of execution of the Private Placement). Upon closing of the Private Placement, expected during the first week of September, FIMI will beneficially own approximately 38% of Kamada’s outstanding ordinary shares and will become a controlling shareholder of the Company, within the meaning of the Israeli Companies Law, 1999 (the "Companies Law").

“We are grateful for the support of FIMI and our shareholders in approving the $60 million private placement,” said Amir London, Kamada’s Chief Executive Officer. “We now have enhanced financial flexibility, which allows us to accelerate the growth of our business. We are proactively evaluating a number of compelling business development opportunities that have the potential to expand our existing product portfolio.”

The securities offered under the Private Placement were not registered under the Securities Act of 1933, as amended. The Company agreed to file a registration statement with the U.S. Securities and Exchange Commission registering the resale of all the ordinary shares held by FIMI, following its request, at any time after the lapse of six months following the closing of the Private Placement.

Kamada also separately announced the appointment of two new independent directors (who qualify as External Directors under the Companies Law) to its Board of Directors, Professor Benjamin Dekel, MD, PhD. and Mr. Assaf Itshayek. Professor Dekel is known internationally as one of the most innovative and highly recognized researchers in the field of human renal stem cell biology and regenerative medicine, and Mr. Itshayek has over 15 years of hi-tech industry experience in senior management and finance executive positions.