Kitov Announces Pricing of $6 Million Registered Direct Offering
KITOV PHARAMCEUTICALS HOLDINGS LTD AMERICAN DEPOS (KTOV)
US:NASDAQ Investor Relations:
kitovpharma.com
Company Research
Source: GlobeNewswire
TEL-AVIV, Israel , Jan. 16, 2019 (GLOBE NEWSWIRE) -- Kitov Pharma Ltd. (NASDAQ/TASE: KTOV), an innovative biopharmaceutical company, today announced that it has entered into definitive agreements with institutional investors providing for the issuance of 3,428,572 American Depositary Shares (ADS) at a purchase price of $1.75 per ADS in a registered direct offering. Kitov will also issue unregistered warrants to purchase up to 2,571,430 ADSs. The warrants will have a term of 5.5 years, be exercisable immediately following the issuance date and have an exercise price of $2.00 per ADS. The offering is expected to result in gross proceeds of approximately $6 million. H.C. Wainwright & Co. is acting as the exclusive placement agent in connection with this offering. The closing of the sale of the securities is expected to take place on or about January 18, 2019, subject to satisfaction of customary closing conditions. The ADSs described above were offered pursuant to a shelf regi
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