Jerusalem-based Entera Bio Ltd. is offering 1,333,334 ordinary shares and warrants to buy up to 666,667 ordinary shares in an IPO.
The biopharmaceutical company is planning to list on the Nasdaq Capital Market under the ENTX symbol.
The company is selling the shares and warrants in units, with each unit consisting of 1 ordinary share and 1 warrant to buy 0.5 of an ordinary share. The units will be priced between $8 and $10 each.
The warrants will initially be exercisable at $11.25 per ordinary share.
Entera also granted underwriters the right to purchase up to 200,000 additional ordinary shares as well as 200,000 additional warrants to buy up to 100,000 ordinary shares.
Entera expects about $10 million in net proceeds from the offering, or about $11.7 million if the underwriters fully exercise the overallotment option.
Maxim Group LLC is acting as sole book-running manager for the offering, while Joseph Gunnar & Co. is acting as co-manager.
CTech, a news site owned by Israeli newspaper Calcalist, reported that Entera's current planned offering is the company's fifth attempt at an IPO on Nasdaq since 2014.
Entera planned to launch an IPO in January, but the offering was delayed, Israeli business daily Globes reported that month.