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GW Pharmaceuticals prices offering of ADSs

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According to Market Intelligence, December 2022

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GW Pharmaceuticals prices offering of ADSs

GW Pharmaceuticals plc priced an underwritten public offering on the Nasdaq Global Market of 2,400,000 American depositary shares at $115 apiece.

The ADSs represent 28,800,000 ordinary shares of GW.

The U.K.-based company expects gross proceeds of about $276 million from the offering.

GW Pharmaceuticals granted underwriters a 30-day option to buy up to an additional 360,000 ADSs at the offering price.

The offering is expected to close Dec. 11.

Goldman Sachs & Co. LLC, Morgan Stanley, Bank of America Merrill Lynch and Cowen are acting as joint book-running managers for the offering.