Kite Pharma has launched its IPO after pricing its 7.5 million shares at $17 per share. The stock began trading Friday on the NASDAQ under the ticker symbol “KITE.” Jefferies, Credit Suisse Securities (USA) and Cowen and Company are the lead underwriters. Based in Santa Monica, Calif., Kite Pharma is a biopharmaceutical firm focused on treating cancer. Kite Pharma’s backers include Alta Partners and TPG Capital.
SANTA MONICA, Calif., June 20, 2014 (GLOBE NEWSWIRE) — Kite Pharma, Inc. (Nasdaq: KITE), a clinical-stage biopharmaceutical company focused on developing engineered autologous T cell therapy (eACT™) products for the treatment of cancer, today announced the pricing of its initial public offering of 7,500,000 shares of its common stock at a price to the public of $17.00 per share.
The shares are expected to begin trading on The NASDAQ Global Select Market on June 20, 2014 under the symbol “KITE”. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1,125,000 shares of common stock.
Jefferies LLC, Credit Suisse Securities (USA) LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. Stifel is acting as co-manager.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on June 19, 2014. The offering will be made only by means of a prospectus. Copies of the final prospectus relating to the offering, when available, may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, telephone: (877) 547-6340, e-mail: Prospectus_Department@Jefferies.com; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, telephone: (800) 221-1037, e-mail: email@example.com; or Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attention: Prospectus Department, telephone: (631) 274-2806, fax: (631) 254-7140.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.