During Friday’s Morning trade, Shares of Kite Pharma Inc (NASDAQ:KITE), lost -3.51% to $66.77.
Kite Pharma, declared that the underwriters of its formerly declared underwritten public offering have exercised in full their option to purchase an additional 543,750 shares of Kite’s common stock. Counting this option exercise, total gross proceeds to Kite from the offering of an aggregate 4,168,750 shares at a price to the public of $69.00 per share will be about $287.6 million, before deducting the underwriting discounts and commissions and other offering expenses. The offering is predictable to close on December 15, 2015, subject to customary closing conditions.
Jefferies LLC and Citigroup Global Markets Inc. are acting as lead book-running managers for the offering. Cowen and Company, LLC and RBC Capital Markets, LLC are acting as joint book-running managers, and Stifel is acting as co-manager.
The securities described above are being offered by Kite following a shelf registration statement (counting a prospectus) filed on December 8, 2015 with the Securities and Exchange Commission (SEC), which has become automatically effective.
Kite Pharma, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel cancer immunotherapy products. The company is developing a pipeline of engineered autologous cell therapy-based product candidates for the treatment of solid and hematological malignancies.
Shares of California Resources Corp (NYSE:CRC), declined -2.46% to $2.77, during its current trading session.
California Resources Corporation, declared the expiration and final results of its private offers to exchange (the “Exchange Offers”) up to $2.8125 billion aggregate principal amount (the “Maximum Exchange Amount”) of its outstanding 5.0% Senior Notes due 2020 (the “5% Notes”), 5½% Senior Notes due 2021 (the “5½% Notes”) and 6.0% Senior Notes due 2024 (the “6% Notes” and together with the 5% Notes and the 5½% Notes, the “Old Notes”) held by Eligible Holders (as defined below), for newly issued 8.00% Senior Secured Second Lien Notes due 2022 (the “New Secured Notes”).
The Exchange Offers expired at 11:59 p.m. New York City time on December 10, 2015 (the “Expiration Time”). As of the Expiration Time, $3,653,296,000 in aggregate principal amount of the Old Notes, representing 73 % of the outstanding principal amount of the Old Notes, had been validly tendered (and not validly withdrawn) following the Exchange Offers.
Because the aggregate principal amount of Old Notes validly tendered (and not validly withdrawn) at or before 5:00 p.m. New York City time on December 1, 2015 (the “Early Participation Time”) exceeded the Maximum Exchange Amount, CRC will accept only Old Notes tendered before the Early Participation Time on a pro rata basis as offered in the Offering Memorandum (as defined below) and will not accept any Old Notes tendered after the Early Participation Time.
California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. It produces oil, natural gas, and natural gas liquids. The company holds interests in about 2.4 million net acres.
Finally, United Technologies Corporation (NYSE:UTX), gained 0.17%, and is now trading at $94.02.
United Technologies Corp. (UTX) President and Chief Executive Officer Gregory Hayes will communicate the company’s expectation for 2015 adjusted earnings per share (Adjusted EPS*) of $6.20 to $6.30, raising the lower end of the previous range by $0.05. In the current quarter, the company anticipates to record a $3.3 billion after-tax gain on the Sikorsky divestiture.
UTC anticipates 2016 adjusted earnings per share of $6.30 to $6.60. Sales for 2016 are predictable to be $56 billion to $58 billion, with organic growth of 1 to 3 percent.
“I’m proud to say that over the past few weeks, we have closed the $9 billion Sikorsky sale and launched an accelerated share repurchase program to return another $6 billion to our shareholders. We are now well positioned to deliver results toward the higher end of our formerly declared predictable EPS range for 2015,” Hayes said.
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; modernization products to upgrade elevators and escalators; and maintenance and repair services.
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