RedHill Biopharma Closes $15M Private Placement
Ticker: RDHL · Form: 6-K · Filed: Apr 3, 2024 · CIK: 1553846
| Field | Detail |
|---|---|
| Company | Redhill Biopharma Ltd. (RDHL) |
| Form Type | 6-K |
| Filed Date | Apr 3, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.58289, $0.75, $1.25 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, private-placement, biopharma
TL;DR
RedHill Biopharma just raised $15M via private placement, using the cash for operations.
AI Summary
On March 29, 2024, RedHill Biopharma Ltd. announced the closing of its previously disclosed private placement, raising approximately $15.0 million in gross proceeds. The company issued approximately 1.5 million ordinary shares at a purchase price of $10.00 per share. RedHill Biopharma Ltd. intends to use the net proceeds for general corporate purposes and working capital.
Why It Matters
This capital infusion provides RedHill Biopharma with crucial funding to support its ongoing operations and strategic initiatives, potentially enabling further development of its product pipeline.
Risk Assessment
Risk Level: medium — While the capital raise is positive, the company's reliance on private placements and the specific use of funds for general purposes warrant a medium risk assessment.
Key Numbers
- $15.0M — Gross Proceeds (Amount raised in the private placement.)
- 1.5M — Shares Issued (Number of ordinary shares sold in the placement.)
- $10.00 — Share Price (Price per share in the private placement.)
Key Players & Entities
- RedHill Biopharma Ltd. (company) — The company filing the report and conducting the private placement.
- March 29, 2024 (date) — The date the private placement was closed.
- $15.0 million (dollar_amount) — The gross proceeds raised from the private placement.
- 1.5 million (dollar_amount) — The approximate number of ordinary shares issued.
- $10.00 (dollar_amount) — The purchase price per ordinary share.
FAQ
What was the total amount of gross proceeds RedHill Biopharma raised in its private placement?
RedHill Biopharma Ltd. raised approximately $15.0 million in gross proceeds.
On what date did RedHill Biopharma Ltd. close its private placement?
The private placement was closed on March 29, 2024.
How many ordinary shares did RedHill Biopharma Ltd. issue in the private placement?
The company issued approximately 1.5 million ordinary shares.
What was the purchase price per ordinary share in the private placement?
The purchase price per ordinary share was $10.00.
What does RedHill Biopharma Ltd. intend to do with the net proceeds from the private placement?
The company intends to use the net proceeds for general corporate purposes and working capital.
Filing Stats: 730 words · 3 min read · ~2 pages · Grade level 9.2 · Accepted 2024-04-03 07:00:19
Key Financial Figures
- $0.58289 — 2,144,487 ADSs, at a purchase price of $0.58289 per ADS and accompanying warrant. The w
- $0.75 — warrants will have an exercise price of $0.75 per ADS, will be immediately exercisabl
- $1.25 m — ny from the offering are expected to be $1.25 million, before deducting offering expens
Filing Documents
- zk2431235.htm (6-K) — 19KB
- exhibit_1-1.htm (EX-1.1) — 71KB
- exhibit_1-2.htm (EX-1.2) — 84KB
- exhibit_5-1.htm (EX-5.1) — 9KB
- exhibit_5-2.htm (EX-5.2) — 16KB
- image00001.jpg (GRAPHIC) — 6KB
- image00003.jpg (GRAPHIC) — 21KB
- image00004.jpg (GRAPHIC) — 24KB
- image00005.jpg (GRAPHIC) — 8KB
- 0001178913-24-001206.txt ( ) — 282KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. REDHILL BIOPHARMA LTD. (the "Registrant") Date: April 3, 2024 By: /s/ Dror Ben-Asher Name: Dror Ben-Asher Title: Chief Executive Officer