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Kite Pharma (KITE) proposes 4.75 M share offering priced at $75.00

March 2, 2017 9:05am

KITE closed UP +$8.85 and is DOWN -$3.87 or -5.31% in the pre-market, be prepared for more downside ...

Kite Pharma (KITE) commenced an underwritten public offering of 4,750,000 shares of its common stock.

Jefferies LLC is acting as sole book-running manager for the offering.

The Bottom Line: The move comes after the stock rocketed 51% over the past three days, amid positive results from a study of its treatment for aggressive non-Hodgkin's lymphoma. KITE said all the shares will be sold by the company.

With about 50.2 M shares outstanding through Wednesday, , the offering would increase that total by 9.5%. The underwriters of the offering have been granted options to buy up to an additional 712,500 shares.

JUNO issues aside - SELL

35 companies, 1 interpreter!

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