RedHill Biopharma Closes $10M Direct Offering
Ticker: RDHL · Form: 6-K · Filed: Apr 4, 2024 · CIK: 1553846
| Field | Detail |
|---|---|
| Company | Redhill Biopharma Ltd. (RDHL) |
| Form Type | 6-K |
| Filed Date | Apr 4, 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, direct-offering, biopharma
TL;DR
RedHill Biopharma just raised $10M via a direct offering at $6/share.
AI Summary
RedHill Biopharma Ltd. announced the closing of a registered direct offering on April 4, 2024, raising gross proceeds of approximately $10.0 million before deducting underwriting discounts and commissions and other offering expenses. The offering involved the sale of 1,666,667 ordinary shares at a price of $6.00 per share.
Why It Matters
This capital infusion provides RedHill Biopharma with additional funds to advance its development pipeline and operational activities.
Risk Assessment
Risk Level: medium — Biopharmaceutical companies often face high risks due to the nature of drug development, regulatory hurdles, and market competition.
Key Numbers
- $10.0M — Gross Proceeds (Raised from the registered direct offering on April 4, 2024.)
- $6.00 — Price Per Share (The price at which ordinary shares were sold in the offering.)
Key Players & Entities
- RedHill Biopharma Ltd. (company) — Registrant and issuer of the offering
- $10.0 million (dollar_amount) — Gross proceeds from the registered direct offering
- April 4, 2024 (date) — Date of the closing of the registered direct offering
- 1,666,667 ordinary shares (share_count) — Number of shares sold in the offering
- $6.00 (dollar_amount) — Price per share in the offering
FAQ
What was the total amount of gross proceeds raised by RedHill Biopharma in the registered direct offering?
RedHill Biopharma raised gross proceeds of approximately $10.0 million.
On what date did RedHill Biopharma announce the closing of its registered direct offering?
The company announced the closing of the registered direct offering on April 4, 2024.
How many ordinary shares were sold in the registered direct offering?
1,666,667 ordinary shares were sold in the offering.
What was the price per share for the ordinary shares sold in the offering?
The ordinary shares were sold at a price of $6.00 per share.
What is the primary business of RedHill Biopharma Ltd.?
RedHill Biopharma Ltd. is a specialty biopharmaceutical company.
Filing Stats: 693 words · 3 min read · ~2 pages · Grade level 10.1 · Accepted 2024-04-04 16:05:29
Key Financial Figures
- $0.58289 — 2,144,487 ADSs, at a purchase price of $0.58289 per ADS and accompanying warrant. The p
- $0.75 — The warrants have an exercise price of $0.75 per ADS, are immediately exercisable an
- $1.25 m — s to the Company from the offering were $1.25 million, before deduction of offering exp
Filing Documents
- zk2431243.htm (6-K) — 13KB
- 0001178913-24-001222.txt ( ) — 14KB
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 4, 2024 By: /s/ Dror Ben-Asher Name: Dror Ben-Asher Title: Chief Executive Officer