Redhill Biopharma: Shares fall on potential mixed shelf offering
23/07/2018 13:57
** U.S.-listed shares of Redhill Biopharma RDHL.O fall 6.3
pct premarket to $9.33 after the Israeli drugmaker says it may
commence a mixed shelf offering
** Says it may commence a mixed shelf offering consisting of
ADSs and warrants; Each ADS represents 10 ordinary shares (https://bit.ly/2JMIx98)
** To raise $175 mln from offering; intends to use proceeds
for research and development of its drug candidates, potential
acquisitions and to support commercial operations
** RDHL had ~19.85 mln shares in free float as of July 1 -
TR data
** U.S.-listed RDHL, third biggest pct loser across U.S.
exchanges in premarket
** As of Friday's close, U.S.-listed shares of RDHL nearly
doubled YTD
(Reporting by Shreyashi Sanyal in Bengaluru)
((RM: Shreyashi.Sanyal.thomsonreuters.com@reuters.net))