Summary by Moomoo AI
RedHill Biopharma Ltd., a specialty biopharmaceutical company, has announced a registered direct offering to raise $1.25 million by selling American Depositary Shares (ADSs) and warrants at a premium to the market price. The offering involves the sale of 2,144,487 ADSs, each representing 400 ordinary shares, along with warrants to purchase an equivalent number of ADSs, at a price of $0.58289 per ADS and accompanying warrant. This price is a 10% premium over the closing price on March 28, 2024. The warrants have an exercise price of $0.75 per ADS, are immediately exercisable, and are valid for five years from the issuance date. The closing of the offering is expected on or about April 3, 2024, subject to customary closing conditions. RedHill intends to use the net proceeds for general corporate...Show More