Kitov Pharma Ltd. Announces Cash Proceeds of $6.5 Million from Exercise of Warrants
KITOV PHARAMCEUTICALS HOLDINGS LTD AMERICAN DEPOS (KTOV)
US:NASDAQ Investor Relations:
kitovpharma.com
Company Research
Source: GlobeNewswire
TEL-AVIV, Israel, April 20, 2020 (GLOBE NEWSWIRE) -- Kitov Pharma Ltd. (“Kitov”) (NASDAQ/TASE: KTOV), a clinical-stage company advancing first-in-class therapies to overcome tumor immune evasion and drug resistance, today announced a transaction resulting in expected gross cash proceeds to Kitov of approximately $6.5 million, prior to deducting placement agent fees and estimated offering expenses, through the exercise of existing warrants by multiple holders to purchase 20.0 million of the Company’s American Depositary Shares (“ADSs”) at an exercise price of $0.325 per share. The ADSs issued upon exercise of the warrants are registered pursuant to Kitov’s registration statement on Form F-1 (File No. 333-235729), as amended, relating to such ADSs, which registration statement was declared effective by the Securities and Exchange Commission (SEC) on March 11, 2020 (the “Registration Statement”). In consideration for the immediate exercise of the warrants, and in a private pl
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