TEL-AVIV, Israel, Dec. 28, 2016 (GLOBE NEWSWIRE) -- RedHill Biopharma Ltd. (NASDAQ:RDHL) (TASE:RDHL) (“RedHill” or the “Company”), a biopharmaceutical company primarily focused on the development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for gastrointestinal and inflammatory diseases and cancer, today announced the closing of its previously announced underwritten public offering and its concurrent registered direct offering of American Depositary Shares (“ADSs”) and warrants to purchase ADSs for aggregate gross proceeds, from both offerings combined, before deducting underwriting discounts and commissions, placement agent fees and other offering expenses, of approximately $38 million.
The underwritten public offering was for a total number of 2,250,000 ADSs, each representing ten of its ordinary shares, and warrants to purchase 1,125,000 ADSs, with gross proceeds of approximately $23 million. The concurrent registered direct offering was for a total number of 1,463,415 ADSs and warrants to purchase 731,708 ADSs with gross proceeds of approximately $15 million. Aggregate gross proceeds from both offerings combined totaled approximately $38 million.
SOURCE : RedHill Biopharma Ltd.