Kazia Therapeutics Limited (NASDAQ: KZIA), an oncology-focused drug development company based in Sydney, Australia, announced the successful closing of a private placement of equity securities (PIPE) resulting in aggregate gross proceeds of approximately $50.0 million, before placement agent fees and offering expenses.
The PIPE consisted of American Depositary Shares (“ADSs”), each representing 500 ordinary shares, priced at $5.00 per ADS. The offering included participation from healthcare-focused institutional investors.
Net proceeds to the Company from the PIPE are expected to be approximately $46.5 million and are intended to support the continued clinical development of the Company’s lead program, paxalisib, advancement of its PD-L1 degrader program, and general corporate purposes.
Konik Capital Partners, LLC acted as exclusive placement agent for the PIPE. Lucosky Brookman LLP acted as counsel to Konik Capital Partners, LLC in connection with the transaction.
