Verona Pharma (VRNA)

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Verona Pharma Announces Proposed Underwritten Public Offering Of 10M ADSs
4:42 pm ET August 9, 2022 (Benzinga) Print
Verona Pharma plc (NASDAQ:VRNA) ("Verona Pharma" or the "Company"), a clinical-stage biopharmaceutical company focused on respiratory diseases, today announced a proposed underwritten public offering of 10 million American Depositary Shares ("ADSs"), each representing eight ordinary shares of Verona Pharma, nominal value £0.05 per share (the "Offering"). All ADSs in the Offering will be offered by Verona Pharma. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the offering. In addition, Verona Pharma intends to grant the underwriters of the Offering a 30-day option to purchase up to an additional 1.5 million ADSs at the public offering price, less the underwriting discount and commission.