Wells Fargo is lead manager; Roth Capital is joint bookrunner
By Susanna Moon
Chicago, Feb. 10 – RedHill Biopharma Ltd. priced its $12.5 million offering of American Depositary Shares with a 30-day over-allotment option for up to $1,875,000. The deal was announced on Feb. 9.
The company priced 1 million American Depository Shares, each representing 10 ordinary shares, at an offering price of $12.50 each.
Wells Fargo Securities LLC is the lead bookrunning manager and Roth Capital Partners is the joint bookrunning manager.
Proceeds will be used for research and development related purposes in connection with RedHill’s therapeutic candidates, for potential acquisitions and for general corporate purposes.
RedHill Biopharma’s ADSs (Nasdaq: RDHL) closed at $14.50 per share on Feb. 9.
The biopharmaceutical company is based in Tel Aviv.
| Issuer: | RedHill Biopharma Ltd.
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| Issue: | American Depositary Shares, each representing 10 ordinary shares
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| Amount: | $12.5 million
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| ADSs: | 1 million
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| Greenshoe: | 150,000
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| Price: | $12.50
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| Warrants: | No
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| Bookrunners: | Wells Fargo Securities LLC and Roth Capital Partners
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| Co-manager: | MLV & Co.
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 13
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| Stock symbol: | Nasdaq: RDHL
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| Stock price: | $14.50 at close Feb. 9
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| Market capitalization: | $127.43 million
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