Kadmon was founded by former ImClone CEO Sam Waksal and which is now led by his brother Harlan Waksal.
The New York, NY-based company plans to raise $100 million by offering 5.6 million shares at a price range of $16 to $20, with certain insiders having indicated on buying 40% of the deal. Additionally, Kadmon filed documents for top shareholders who are selling 1.4 million shares. At the midpoint of the proposed range, the value of the common shares outstanding post-offering will be $613 million; with the inclusion of the 830,000 underwriter over-allotment if exercised, the value of the common shares outstanding post-offering will be $628 million.
Kadmon Holdings, a biotech developing kinase inhibitors for autoimmune disease, fibrosis and solid tumors was founded in 2009. They booked $38 million for the past 12 months ending March 31, 2016. The company plans to list on the New York Stock Exchange under $KDMN with target to go public week of July 25, 2016.