RedHill Biopharma Ltd (RDHL)

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RedHill Biopharma Closes $8.0 Million Underwritten Public Offering

https://finance.yahoo.com/news/redhill-biopharma-closes-8-0-183600375.html

TEL AVIV, Israel and RALEIGH, N.C., Dec. 6, 2022 /PRNewswire/ -- RedHill Biopharma Ltd. (Nasdaq: RDHL) ("RedHill" or the "Company"), a specialty biopharmaceutical company, today announced the closing of an underwritten public offering with gross proceeds to the Company of approximately $8.0 million, before deducting underwriting discounts and other expenses payable by the Company. The offering consisted of 32,000,000 units/pre-funded units consisting of (a) one American Depositary Share ("ADS") (or one pre-funded warrant to purchase one ADS in lieu thereof) and (b) one warrant to purchase one ADS (the "Warrants") at a price to the public of $0.25 per unit (or $0.249 per pre-funded unit after reducing $0.001 attributable to the exercise price of the pre-funded warrants). Each ADS represents 10 of our ordinary shares, par value NIS 0.01 per share. RedHill intends to use the net proceeds of the offering for working capital, acquisitions, and general corporate purposes.

Aegis Capital Corp. acted as the sole book-running manager for the proposed public offering.