Chiesi Group to acquire KalVista Pharmaceuticals for $27.00 per share, ~$1.9bn

KalVista Pharmaceuticals, Inc.

Chiesi will acquire all KalVista shares for $27.00/sh cash, a 36% premium to 30-day VWAP as of April 28, 2026.
Total equity consideration approximately $1.9bn; transaction expected to close in Q3 2026 subject to regulatory approvals and majority tender.
KalVista's key asset is EKTERLY (sebetralstat), first oral on-demand HAE therapy; US launch in July 2025 generated $49M in 2025 sales.
Termination fee of $66.4M payable by KalVista if it accepts a superior offer; transaction not subject to financing condition.
Both companies' boards unanimously approved the merger; KalVista board recommends stockholders tender shares.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

KalVista Pharmaceuticals, Inc. entered into Agreement and Plan of Merger with Chiesi Farmaceutici S.p.A. valued at $27.00 per Share (effective 2026-04-29).

Action: entry
Agreement: merger
Counterparty: Chiesi Farmaceutici S.p.A.
Value: $27.00 per Share
Effective: 2026-04-29

Exact text from the filing

On April 29, 2026, KalVista Pharmaceuticals, Inc., a Delaware corporation (the " Company "), entered into an Agreement and Plan of Merger (the " Merger Agreement "), by and among the Company, Chiesi Farmaceutici S.p.A., an Italian società per azioni (" Parent "), Skyline Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (" Purchaser "), and KalVista Pharmaceuticals Limited, a private limited company organized under the laws of England and Wales.

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KalVista Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-26-017656

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