Kamada Announces $25 Million Private Placement with FIMI Opportunity Fund

Execution of Securities Purchase Agreement with FIMI Opportunity Fund, an Existing Strategic Investor, to Support Kamada’s Growth Plans and Execution of Strategic Business Opportunities

REHOVOT, Israel, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ & TASE: KMDA), a plasma-derived protein therapeutics company, announced today that it has entered into a securities purchase agreement with FIMI Opportunity Funds  (FIMI), the leading private equity investor in Israel, to purchase $25 million of its ordinary shares in a private placement.  No placement agent fees will be incurred by the Company in connection with the transaction. 

Under the terms of the agreement, Kamada will issue an aggregate of 4,166,667 ordinary shares to FIMI at a price of $6.00 per share (which represents a discount of approximately eight percent to the closing price of the Company’s shares on NASDAQ on January 17, 2020, and a discount of approximately 5.5% to the last three months average closing price of the Company’s shares on NASDAQ). Upon the closing of the transaction, FIMI will beneficially own approximately 21% of Kamada’s outstanding ordinary shares. 

Proceeds from the private placement are expected to be used to finance the Company’s growth plans and execution of strategic business opportunities.

The securities offered to FIMI have not been registered under the Securities Act of 1933, as amended.  The Company has agreed to file a registration statement with the U.S. Securities and Exchange Commission registering the resale of the ordinary shares held by FIMI per their request at any time after the lapse of six months following the closing of the private placement.

“We are grateful for the support provided and confidence demonstrated in our business by FIMI through this transaction,” said Amir London, Chief Executive Officer of Kamada.  “We believe that FIMI, a reputable investor with proven abilities and significant financial resources, will support the continued execution of our business development strategy, which is focused on identifying new product opportunities for our manufacturing plant and seeking complementary products via licensing and acquisition.  We are committed to creating significant long-term shareholder value and are confident that this strategic financing represents a key achievement towards accomplishing this objective.”