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Calliditas Therapeutics Prices IPO At $19.50/ADS

Calliditas Therapeutics AB said that it has priced its initial public offering at $19.50 per ADS in the U.S., and concurrent private placement at SEK 89.70 per share.

The company announced the pricing of the initial public offering on The Nasdaq Global Select Market by way of a capital increase of 9.23 million new common shares, consisting of a public offering of 8.31 million common shares in the form of American Depositary Shares and a concurrent private placement of 924,000 common shares. The each ADS representing two common shares.

The aggregate gross proceeds amount to $90 million, before deduction of underwriting commissions and estimated expenses payable by Calliditas. The Global Offering was upsized from the $75 million indicated on June 1, 2020.

Trading of the ADSs on The Nasdaq Global Select Market commences on June 5, 2020, under the symbol "CALT."

Calliditas plans to use the net proceeds from the Global Offering, together with its existing cash resources, for the purposes of funding of its ongoing Phase 3 clinical trial and related trials of Nefecon, pre-commercialization and, if approved, commercialization activities for Nefecon and development of additional product candidates.

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