RedHill Biopharma Ltd., a specialty biopharmaceutical company, has successfully closed a registered direct offering with certain private investors. The transaction involved the sale of 2,144,487 American Depositary Shares (ADSs) and accompanying warrants to purchase an equivalent number of ADSs. Each ADS represents 400 ordinary shares of RedHill, with a par value of NIS 0.01 each. The offering was priced at $0.58289 per ADS and accompanying warrant, a 10% premium over the closing price on the Nasdaq Capital Market as of March 28, 2024. The warrants are exercisable immediately at a price of $0.75 per ADS and are valid for a term of five years from the issuance date. The gross proceeds from the offering amounted to $1.25 million before deducting offering expenses. RedHill did not employ a placement agent...Show More

RedHill Biopharma Ltd., a specialty biopharmaceutical company, has successfully closed a registered direct offering with certain private investors. The transaction involved the sale of 2,144,487 American Depositary Shares (ADSs) and accompanying warrants to purchase an equivalent number of ADSs. Each ADS represents 400 ordinary shares of RedHill, with a par value of NIS 0.01 each. The offering was priced at $0.58289 per ADS and accompanying warrant, a 10% premium over the closing price on the Nasdaq Capital Market as of March 28, 2024. The warrants are exercisable immediately at a price of $0.75 per ADS and are valid for a term of five years from the issuance date. The gross proceeds from the offering amounted to $1.25 million before deducting offering expenses. RedHill did not employ a placement agent for the offering. The net proceeds are intended for working capital and general corporate purposes. RedHill also announced its plan to file its 2023 annual report on Form 20-F by April 8, 2024. The securities were offered under a shelf registration statement on Form F-3, effective since August 9, 2021. A final prospectus supplement and accompanying prospectus have been filed with the SEC and are available on the SEC's website.