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midastouch017

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midastouch017

Re: midastouch017 post# 2681

Tuesday, 01/12/2021 9:16:24 AM

Tuesday, January 12, 2021 9:16:24 AM

Post# of 3872
Redhill Biopharma increases bought deal financing to $25M

Jan. 12, 2021 9:09 AM ETRedHill Biopharma Ltd. (RDHL)
By: Shweta Agarwal, SA News Editor

Redhill Biopharma (NASDAQ:RDHL) upsizes its bought deal offering to $25M, from initial $10M announced yesterday.

The company says underwriters have agreed to purchase 3,188,776 ADSs on the firm commitment basis at a price of $7.84/ADS.
Additionally, underwriters have been granted an option to purchase up to additional 478,316 ADSs.
Net proceeds is to be used for funding the company's clinical development programs, commercialization activities and for acquisitions and general corporate purposes.
The offering is expected to close on Jan. 14, 2021.
Stock down 10.79% in premarket move.
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