Kala Sets Terms Of IPO To Raise Up To $96 Million

By Tomi Kilgore Markets MarketWatch Pulse

Kala Pharmaceuticals disclosed terms for its proposed initial public offering, in which it will sell 6 million shares at a price between $14 to $16 a share to raise up to $96 million. If the underwriters of the offering exercise all of the options granted to buy 900,000 additional shares to cover overallotments, the developer of treatments for eye diseases could raise up to $110.4 million. The stock is expected to be list on the Nasdaq Global Market under the ticker symbol "KALA." J.P. Morgan, BofA Merrill Lynch, Wells Fargo Securities and Wedbush PacGrow are the lead underwriters. The stock is coming market at a time when the SPDR S&P Pharmaceuticals ETF has climbed 10.1% year to date through Friday, while the S&P 500 has gained 8.3%.

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