Krystal Biotech enters $150M ATM equity offering with Cowen

Krystal Biotech, Inc.

Sales agreement with Cowen for at-the-market offering of up to $150M common stock.
Cowen receives 3.0% commission on gross proceeds from each sale; no obligation to sell.
Shares offered under existing shelf registration; proceeds for general corporate purposes.
Either party may suspend or terminate the offering with notice.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Krystal Biotech, Inc. entered into Sales Agreement with Cowen and Company, LLC valued at up to $150.0 million (effective 2023-05-08).

Action: entry
Agreement: atm program
Counterparty: Cowen and Company, LLC
Value: up to $150.0 million
Effective: 2023-05-08

Exact text from the filing

On May 8, 2023, Krystal Biotech, Inc. (the “Company”) entered into a sales agreement (the “Sales Agreement”) with Cowen and Company, LLC (“Cowen”) to issue and sell shares of the Company’s common stock, par value $0.00001 per share, having an aggregate offering price of up to $150.0 million (the “Placement Shares”) from time to time during the term of the Sales Agreement, through an “at-the-market” equity offering program under which Cowen will act as the Company’s agent and/or principal.

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Krystal Biotech, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-137744

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