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RedHill Biopharma Ltd., a biopharmaceutical company, today announced the closing of its previously announced underwritten public offering of approximately 4.7 million American Depositary Shares (“ADSs”) for gross proceeds of approximately $15.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by RedHill. Each ADS represents ten ordinary shares of the Company with a par value of NIS 0.01 per share. All of the ADSs were offered by RedHill. In addition, RedHill has granted the Underwriter a 30-day option to purchase up to approximately 0.7 million additional ADSs.

Cantor Fitzgerald & Co. acted as the sole book-runner for the offering. SMBC Nikko Securities America, Inc. acted as financial advisor to the Company.

RedHill intends to use the net proceeds of the offering to fund its commercialization activities, clinical development programs, and acquisitions, and general corporate purposes.

The securities described above were offered by RedHill pursuant to a shelf registration statement on Form F-3 (No. 333-232777) declared effective by the Securities and Exchange Commission (the “SEC”) on August 8, 2019.

The final prospectus supplement and accompanying prospectus for the offering has been filed with SEC and are available on the website of SEC at Copies of the final prospectus supplement and the accompanying prospectus for the offering may also be obtained by contacting Cantor Fitzgerald & Co. at 499 Park Avenue, 4th Floor, New York, New York 10022, Attn: Capital Markets Department, or by e-mail at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.