NEW YORK--(BUSINESS WIRE)--Kadmon Holdings, Inc. (NYSE: KDMN) (“Kadmon”), a fully integrated biopharmaceutical company focused on developing innovative products for significant unmet medical needs, today announced a private placement equity financing pursuant to which Kadmon will receive gross proceeds of approximately $23 million from the sale of its securities. Shares of Kadmon’s common stock will be sold at $3.36, representing the last sale price of Kadmon’s common stock on the New York Stock Exchange (NYSE) at the close on March 7, 2017. Each share will be issued with a cash warrant to purchase 0.40 shares of Kadmon’s common stock at an exercise price of $4.50, representing a 34% premium to the last sale price of Kadmon’s common stock on the NYSE at the close on March 7, 2017, with an exercise period expiring 13 months after the closing of the private placement. The private placement is expected to close on March 13, 2017 and is subject to the satisfaction of customary closing conditions.

The anticipated proceeds from the private placement will be used for general corporate purposes.

Jefferies LLC and Piper Jaffray & Co. acted as exclusive placement agents in the transaction.

About Kadmon Holdings, Inc.

Kadmon Holdings, Inc. is a fully integrated biopharmaceutical company developing innovative products for significant unmet medical needs. We have a diversified product pipeline in autoimmune and fibrotic diseases, oncology and genetic diseases.