Redhill slumps to record low on ADS offering

Redhill Biopharma

19/11/2021 18:53

** U.S.-listed shares of Israeli drugmaker  RDHL.O  fall as
much as 33% to a record low of $2.60 
    ** Stock among biggest pct losers on the Nasdaq
Biotechnology Index  .NBI  
    ** RDHL says offering 4.7 million American depositary shares
for gross proceeds of $15.5 million  Pn5985rWa 
    ** Cantor Fitzgerald sole bookrunner for offering, which is
expected to close on or about Nov. 23
    ** Each ADS represents 10 ordinary shares 
    ** Including session losses, stock down ~64% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))