Offering sells 10,458,740 units of one ordinary share and 0.4 warrants
By Devika Patel
Knoxville, Tenn., Jan. 14 - RedHill Biopharma Ltd. said it negotiated a NIS 40.79 million private placement of units.
The company will sell 10,458,740 units of one ordinary share and 0.4 warrants at NIS 3.90 per unit.
The whole warrants are each exercisable at NIS 4.90 for three years.
Investors include Migdal Insurance Co., Yelin Lapidot, and Excellence Nessuah and Sphera Global Healthcare Master Fund.
Proceeds will be used for general working capital and for research and development related purposes.
The biopharmaceutical company is based in Tel Aviv, Israel.
| Issuer: | RedHill Biopharma Ltd.
|
| Issue: | Units of one ordinary share and 0.4 warrants
|
| Amount: | NIS 40,789,086
|
| Units: | 10,458,740
|
| Price: | NIS 3.90
|
| Warrants: | 0.4 warrants per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | NIS 4.90
|
| Investors: | Migdal Insurance Co., Yelin Lapidot, and Excellence Nessuah and Sphera Global Healthcare Master Fund
|
| Pricing date: | Jan. 14
|
| Stock symbol: | Nasdaq: RDHL
|
| Stock price: | $13.14 at close Jan. 18
|
| Market capitalization: | $83.24 million
|
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