ROTH Capital Partners Acts as Sole Book-Running Manager and
Sole Placement Agent For RedHill Biopharma Ltd. (RDHL)
in its concurrent $24.4 Million Follow-On
and $15 Million Registered Direct

For more information please contact:

Investment Banking
John Chambers
Vice-Chairman and
Head of Healthcare
Investment Banking

(646) 358-1901
jchambers@roth.com


Michael Margolis, R.Ph
Managing Director
(646) 358-1902
mmargolis@roth.com

 

Warren Dunnavant II
Director
(646) 358-1903
wdunnavant@roth.com

Equity Capital Markets
Aaron Gurewitz
Head of Equity
Capital Markets
(949) 720-5703

agurewitz@roth.com

 

Nazan Akdeniz
Senior Vice President
(949) 720-5740

nakdeniz@roth.com

 

Lou Ellis
Senior Vice President
(949) 720-5739

lellis@roth.com

Transaction Information

RedHill Biopharma Ltd. (RDHL), a biopharmaceutical company primarily focused on the development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for gastrointestinal and inflammatory diseases and cancer, has completed a concurrent underwritten public offering and a registered direct offering of American Depositary Shares ("ADSs") and warrants to purchase ADSs for aggregate gross proceeds, from both offerings combined, of approximately $38 million, prior to the exercise of the over-allotment option.

The underwritten public offering was for a total number of 2,250,000 ADSs, each representing ten of its ordinary shares, and warrants to purchase 1,125,000 ADSs, with gross proceeds of approximately $23 million. The concurrent registered direct offering was for a total number of 1,463,415 ADSs and warrants to purchase 731,708 ADSs with gross proceeds of approximately $15 million.

The price in both offerings was $10.25 for a fixed combination of one ADS and a warrant to purchase 0.5 of an ADS. The warrants in both offerings have a per ADS exercise price of $13.33 and have a term of three years.

Pursuant to the exercise of the underwriter’s options, the combined offering totaled 3,846,519 ADSs and warrants to purchase 2,025,458 ADSs, representing aggregate gross proceeds of approximately $39.4 million.

ROTH Capital Partners acted as Sole Book-Running Manager in the follow-on offering and Sole Placement Agent in the registered directed offering.

About RedHill Biopharma Ltd

RedHill Biopharma Ltd. (NASDAQ:RDHL) (TASE:RDHL) is a biopharmaceutical company headquartered in Israel, primarily focused on the development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for the treatment of gastrointestinal and inflammatory diseases and cancer. RedHill's pipeline of proprietary products includes: (i) RHB-105 - an oral combination therapy for the treatment of Helicobacter pylori infection with successful results from a first Phase III study; (ii) RHB-104 - an oral combination therapy for the treatment of Crohn's disease with an ongoing first Phase III study and a completed proof-of-concept Phase IIa study for multiple sclerosis; (iii) BEKINDA® (RHB-102) - a once-daily oral pill formulation of ondansetron with an ongoing Phase III study for acute gastroenteritis and gastritis and an ongoing Phase II study for IBS-D; (iv) RHB-106 - an encapsulated bowel preparation licensed to Salix Pharmaceuticals, Ltd.; (v) YELIVA® (ABC294640) - a Phase II-stage, orally-administered, first-in-class SK2 selective inhibitor targeting multiple oncology, inflammatory and gastrointestinal indications; (vi) MESUPRON - a Phase II-stage first-in-class, orally-administered uPA inhibitor, targeting gastrointestinal and other solid tumors and (vii) RIZAPORT® (RHB-103) - an oral thin film formulation of rizatriptan for acute migraines, with a U.S. NDA currently under discussion with the FDA and marketing authorization received in Germany in October 2015. For more information, visit www.redhillbio.com. (Source: Company Press Release | 12/27/16)

About ROTH Capital Partners

ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S.  For more information on ROTH, please visit www.roth.com.

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