RedHill Biopharma completes US$14.4 million public offering of American Depositary Shares

On February 13, 2015, RedHill Biopharma Ltd. (RedHill) successfully completed its issuance of 1,000,000 American Depositary Shares (ADSs) at a price of US$12.50 per ADS for gross proceeds of approximately US$12.5 million.

Pursuant to an underwriting agreement, RedHill issued an additional 150,000 ADSs on February 18, 2015, as part of the over-allotment option granted to the syndicate of underwriters, at the same price as the offering. The exercise in full of the over-allotment option increased the total gross proceeds of the public offering to approximately US$14.4 million.

Wells Fargo Securities, LLC acted as lead book-running manager and Roth Capital Partners LLC acted as joint book-running manager for the underwriting syndicate.

RedHill is an emerging Israeli biopharmaceutical company focused on the development and acquisition of late clinical-stage, proprietary, orally-administered drugs for the treatment of inflammatory and gastrointestinal diseases, including gastrointestinal cancers.

Further information can be found on RedHill's website and globalnewswire.com.