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Kitov prices $8.2M securities offering

Israel's Kitov Pharma Ltd. is looking to raise $8.2 million via a registered direct offering of American depositary shares.

The company will offer institutional investors 3,260,000 ADSs at a purchase price of $2.50 apiece.

Kitov will also issue unregistered warrants to purchase up to an additional 1,630,000 ADSs at $2.80 each.

The offering is expected to close by June 5, with H.C. Wainwright & Co. the exclusive placement agent.