Kala Pharma enters $40M ATM equity facility with Jefferies, prepays $10M Oxford loan

KALA BIO, Inc.

New Open Market Sale Agreement with Jefferies for up to $40M in common stock at market prices; Jefferies gets up to 3% commission.
Prior $75M ATM facility fully utilized (565,974 shares sold for $75M gross proceeds); terminated Jan 10, 2023.
Company notified Oxford Finance of intent to prepay $5M by June 30, 2023 and $5M by Jan 31, 2024, reducing loan principal to ~$34M.
Prepayments include final payment fees and accrued interest; scheduled for Feb 2, 2023.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

KALA BIO, Inc. entered into Open Market Sale Agreement with Jefferies LLC valued at $40,000,000 (effective 2023-01-19).

Action: entry
Agreement: atm program
Counterparty: Jefferies LLC
Value: $40,000,000
Effective: 2023-01-19

Exact text from the filing

On January 19, 2023, Kala Pharmaceuticals, Inc., a Delaware corporation (the “ Company ”), entered into an Open Market Sale Agreement SM (the “ Sales Agreement ”) with Jefferies LLC, as agent (“ Jefferies ”), pursuant to which the Company may offer and sell shares of its common stock, $0.001 par value per share (the “ Common Stock ”), from time to time through Jefferies.

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KALA BIO, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-000362

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