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GW Pharmaceuticals closes $345.2M offering of American depositary shares

U.K.-based GW Pharmaceuticals PLC raised about $345.2 million in gross proceeds in a public offering of its American depositary shares on the Nasdaq Global Market.

The provider of cannabinoid prescription medicines offered 1.9 million ADSs at $158 apiece. The 1.9 million ADSs represents 22.8 million ordinary shares of GW Pharmaceuticals.

In addition, the underwriters exercised their option to buy 285,000 additional ADSs at the offering price.

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, J.P. Morgan, and Cowen and Co. LLC acted as joint book-running managers for the offering.