Benzinga | Mar 2, 2021 08:26AM EST

RedHill Biopharma Increases Previously Announced Bought Deal Offering To $35M; 4.375M Shares At $8/Share

TEL AVIV, Israel and RALEIGH, NC, March 2, 2021 /PRNewswire/ -- RedHill Biopharma Ltd. (NASDAQ:RDHL) ("RedHill" or the "Company"), a specialty biopharmaceutical company, today announced that due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 4,375,000 American Depositary Shares (ADSs) of the Company, at a price to the public of $8.00 per ADS, less underwriting discounts and commissions. Each ADS represents ten ordinary shares, par value NIS 0.01 per share, of the Company. The closing of the offering is expected to occur on or about March 4, 2021, subject to satisfaction of customary closing conditions.