RDHL - RedHill Biopharma announces registered direct offering and warrant exercise for $3.8M gross proceeds
2023-07-21 10:09:32 ET
- RedHill Biopharma Ltd ( NASDAQ: RDHL ) on Friday announced that it has entered into agreements for the purchase and sale of 1,301,923 of company's American Depositary Shares ("ADSs") at a purchase price of $1.35 per ADS in a registered direct offering.
- Each ADS represents 400 ordinary shares.
- The closing of the offering and warrant exercises is expected to occur on or about July 25.
- The gross proceeds from the transactions are expected to be about $3.8M, which the company intends to use for general working capital, acquisitions, research and development, and general corporate purposes.
- RDHL is -24.8% to $1.39
- Source: Press Release
For further details see:
RedHill Biopharma announces registered direct offering and warrant exercise for $3.8M gross proceeds