trending Market Intelligence /marketintelligence/en/news-insights/trending/2dckwue8yly0a_wwyqxiba2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

RedHill Biopharma prices underwritten public offering, direct offering

South Korean Multichannel Industry To Survive With Right Strategies

South Korean Telcos Drive Next Wave Of Growth Through Home IoT Opportunities

Mining Exploration Insights: Financing Falls To 8-Month Low In October

ITU Clears The Way For 17.25 GHz Of New mmWave Spectrum For 5G

RedHill Biopharma prices underwritten public offering, direct offering

RedHill Biopharma Ltd. priced an underwritten public offering and its concurrent registered direct offering of American depositary shares and warrants to buy ADSs for expected aggregate gross proceeds of about $38 million, before deducting underwriting agent discounts and commissions, placement agent fees and other offering expenses.

The underwritten public offering was for 2,250,000 ADSs, each representing 10 of its ordinary shares, and warrants to buy 1,125,000 ADSs, for expected gross proceeds of about $23 million. The concurrent registered direct offering was for 1,463,415 ADSs and warrants to buy 731,708 ADSs for expected gross proceeds of about $15 million.

RedHill also granted the underwriters in the public offering an option to buy up to 337,500 additional ADSs, and warrants to buy up to 168,750 additional ADSs, or any combination of both.

The price in both offerings is $10.25 for a fixed combination of one ADS and a warrant to buy half of an ADS. The warrants in both offerings will have a per-ADS exercise price of $13.33 and a term of three years.

The offering is expected to close Dec. 27, subject to customary closing conditions.

RedHill intends to use the proceeds from the offerings to fund clinical development programs, for potential acquisitions, to support commercial operations and for general corporate purposes.

Roth Capital Partners is acting as sole book-running manager and Echelon Wealth Partners is acting as Canadian manager for the underwritten public offering with respect to sales in Canada. Roth Capital Partners is also acting as placement agent in the registered direct offering.