TEL-AVIV, Israel and RALEIGH, N.C., Nov 8 (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 that it intends to offer its American Depositary Shares (“ADSs”), each representing ten of its ordinary shares, in an underwritten public offering. RedHill also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of ADSs offered to the public. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The Company intends to use the proceeds from the offering to fund clinical development programs, for potential acquisitions, to support commercial operations and for general corporate purposes.
Cantor Fitzgerald & Co. and Nomura Securities International, Inc. are acting as joint book-running managers and SMBC Nikko Securities America, Inc. is acting as lead manager for the offering.
Source : RedHill Biopharma Ltd.
No comments:
Post a Comment