Summary by Moomoo AI
RedHill Biopharma Ltd., a specialty biopharmaceutical company, has successfully closed a registered direct offering, raising $8 million through the sale of 10,000,000 American Depositary Shares (ADSs) at a price of $0.80 per ADS. Concurrently, the company also issued unregistered warrants to purchase an additional 10,000,000 ADSs with an exercise price of $1.00 per ADS, exercisable immediately and valid for five years. The offering was managed by H.C. Wainwright & Co., serving as the exclusive placement agent. RedHill intends to allocate the net proceeds from this offering towards general working capital, acquisitions, research and development, and other corporate purposes. The ADSs were offered under a shelf registration statement on Form F-3, declared effective by the SEC on August 9, 2021. The warrants, however, were issued in a private...Show More