Israel’s advanced cell therapy company Gamida Cell (Nasdaq: GMDA) today announced the sale of $ 75 million from 5.875% of the replaceable banknotes in 2026 to funds managed by Highbridge Capital Management, a unit of JP Morgan. The initial banknote exchange rate of $ 17.70 a share represents a 50% premium over the closing price of Gamida Cell’s common stock on February 12, and a 122% premium over the public offering price of Gamida Cell shares on December 17, 2020. Gamida Cell’s current market cap is 700 million Dollars with convertible banknotes that reflect a market cap of over one billion dollars. Gamida Cell can force banknotes to convert if their stock price hits $ 23. RELATED MATERIALS JAMIDA Cell Raises $ 60 Million at 24% Off Gamida Cell announced positive results for the third phase, owned by Clal Biotechnology Industries Ltd. (TASE: CBI) has a 5% stake in Gamida Cell and Elbit Medical Technologies (TASE: EMTC) has a 3% stake. After this latest funding, Gamida Cell secured $ 200 million, which will be used to support the manufacturing and regulatory and commercial development activities of Omidobil and to promote the preclinical and clinical development of GDA-201. Gamida Cell hopes to be able to start marketing the product in the United States in 2022. Omidubicel is an advanced cell therapy in development as a potential life-saving solution for transplanting hematopoietic stem cells (bone marrow) for patients with malignant blood tumors (blood cancers) Julian Adams said, CEO of Gamida Cell, “Securing this funding from a respected industrial investor strengthens Gamida Cell’s financial position at a pivotal time for our company. It enables us to benefit from the positive clinical outcomes of the second stage resulting from omidubicel and finance the key activities required to provide this treatment to patients. Furthermore, these additional funds help us advance the clinical development of GDA-201 by enabling us to offer the IND for this candidate product. ”Moelis & Company worked as a transaction advisor for Gamida Cell. Posted by Globes, Israel business news – en.globes.co.il – February 16, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021
Jameeda Sale collects $ 75 million in convertible banknotes
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