Kitov Pharmaceuticals Hldgs L Sponsored ADR (KTOV)

[midastouch017]

Kitov Pharmaceuticals Announces Pricing of $3.5 Million Registered Direct Offering

TEL AVIV, Israel, July 11, 2017 /PRNewswire/ --

Kitov Pharmaceuticals (NASDAQ/TASE: KTOV), an innovative biopharmaceutical company focused on late-stage drug development, today announced that it has entered into definitive agreements with institutional and other investors providing for the issuance of 2,431,746 American Depositary Shares (ADS) at a purchase price of $1.45 per ADS in a registered direct offering.

Kitov will issue unregistered warrants to purchase up to 1,215,873 ADSs. The warrants will have a term of 5.5 years, be exercisable six months following the issuance date and have an exercise price of $1.50 per ADS. The offering is expected to result in gross proceeds of approximately $3,526,032

Rodman & Renshaw, a unit of H.C. Wainwright & Co., is acting as the exclusive placement agent in connection with this offering.

The closing of the sale of the securities is expected to take place on or about July 14, 2017, subject to satisfaction of customary closing conditions.