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midastouch017

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midastouch017

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Monday, 05/09/2022 8:57:42 AM

Monday, May 09, 2022 8:57:42 AM

Post# of 3877
RedHill Biopharma to raise $15M in equity offering

May 09, 2022 8:43 AM ETRedHill Biopharma Ltd. (RDHL)

By: Shweta Agarwal, SA News Editor

RedHill Biopharma (NASDAQ:RDHL) announced Monday a direct stock offering to raise up to $15M in gross proceeds.

That is to come through the issue of 10.56M American Depositary Shares (ADS), priced at $1.42 each, to a healthcare investor.

In addition, the specialty biopharmaceutical company-RDHL- has agreed to issue private warrants to the investor that is equivalent to buying about 13.20M ADSs at exercise price of $1.48 each within the expiry of 5.5 years.

RedHill intends to use the net proceeds for working capital, acquisitions, and general corporate purposes.

Closing of the offering is expected on May 11, 2022.
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