RedHill Biopharma Announces Registered Direct Offering For The Purchase And Sale Of 1,301,923 ADS's And Warrant Exercise For $3.8M Gross Proceeds
Portfolio Pulse from Happy Mohamed
RedHill Biopharma Ltd. (NASDAQ:RDHL) has announced a registered direct offering for the purchase and sale of 1,301,923 of the Company's American Depositary Shares (ADSs) at a purchase price of $1.35 per ADS. The company has also agreed to exercise its existing Class A warrants for 1,500,000 ADSs at a reduced exercise price of $1.35 per ADS. The transactions are expected to close on July 25, 2023, and are expected to generate approximately $3.8 million in gross proceeds.
July 21, 2023 | 1:36 pm
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POSITIVE IMPACT
RedHill Biopharma's registered direct offering and warrant exercise could potentially increase the company's liquidity and fund its operations, which may have a positive impact on its stock price.
The registered direct offering and warrant exercise announced by RedHill Biopharma is expected to generate approximately $3.8 million in gross proceeds. This could increase the company's liquidity and provide additional funds for its operations, including acquisitions, research and development, and general corporate purposes. This could potentially have a positive impact on the company's stock price, as it may improve the company's financial position and future prospects.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100