TEL-AVIV, Israel and RALEIGH, N.C., Nov 9 (GLOBE NEWSWIRE) -- RedHill Biopharma Ltd. (NASDAQ:RDHL) (Tel-Aviv Stock Exchange:RDHL) (“RedHill” or the “Company”), a specialty biopharmaceutical company primarily focused on late clinical-stage development and commercialization of proprietary drugs for gastrointestinal and inflammatory diseases and cancer, today announced the pricing of its previously announced underwritten public offering for a total number of 4,090,909 American Depositary Shares (“ADSs”), each representing ten of its ordinary shares, at a public offering price of $5.50 per ADS.
Gross proceeds from the sale of the ADSs by RedHill before underwriting discounts and commissions and other offering expenses are expected to be approximately $22.5 million. The offering is expected to close on November 13, 2017, subject to customary closing conditions. RedHill has also granted the underwriters a 30-day option to purchase up to 613,636 additional ADSs at the public offering price.
Source : RedHill Biopharma
Gross proceeds from the sale of the ADSs by RedHill before underwriting discounts and commissions and other offering expenses are expected to be approximately $22.5 million. The offering is expected to close on November 13, 2017, subject to customary closing conditions. RedHill has also granted the underwriters a 30-day option to purchase up to 613,636 additional ADSs at the public offering price.
Source : RedHill Biopharma
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