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Redhill Biopharma | 424B5: Prospectus

SEC announcement ·  Jan 26 09:34
Summary by Moomoo AI
RedHill Biopharma Ltd. has announced the offering of 10,000,000 American Depositary Shares (ADSs), each representing 400 ordinary shares, to certain institutional investors. The offering is pursuant to a prospectus supplement and the accompanying prospectus, along with a securities purchase agreement dated January 25, 2024. The ADSs are being offered at a price of $0.80 per ADS. Investors will also receive unregistered warrants to purchase up to an additional 10,000,000 ADSs in a concurrent private placement. The warrants have an exercise price of $1.00 per ADS and are exercisable immediately upon issuance, expiring five years from the date of issuance. The offering is expected to close on or about January 26, 2024, subject to customary closing conditions. H.C. Wainwright & Co., LLC is acting as the placement agent for the offering. The net proceeds from the offering are estimated to be approximately $7.1 million after deducting placement agent fees and estimated offering expenses, and will be used for working capital, acquisitions, research and development, and general corporate purposes.
RedHill Biopharma Ltd. has announced the offering of 10,000,000 American Depositary Shares (ADSs), each representing 400 ordinary shares, to certain institutional investors. The offering is pursuant to a prospectus supplement and the accompanying prospectus, along with a securities purchase agreement dated January 25, 2024. The ADSs are being offered at a price of $0.80 per ADS. Investors will also receive unregistered warrants to purchase up to an additional 10,000,000 ADSs in a concurrent private placement. The warrants have an exercise price of $1.00 per ADS and are exercisable immediately upon issuance, expiring five years from the date of issuance. The offering is expected to close on or about January 26, 2024, subject to customary closing conditions. H.C. Wainwright & Co., LLC is acting as the placement agent for the offering. The net proceeds from the offering are estimated to be approximately $7.1 million after deducting placement agent fees and estimated offering expenses, and will be used for working capital, acquisitions, research and development, and general corporate purposes.
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