Date: 2015-05-05
Type of information: Private placement
Company: GW Pharmaceutical (UK)
Investors:
Amount: $179.2 million
Funding type: private placement
Planned used:
Others: * On May 5, 2015, GW Pharmaceuticals, a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, announced the closing of the previously announced offering on the NASDAQ Global Market by GW of 1,600,000 American Depositary Shares (ADSs) at a price of $112.00 per ADS, raising gross proceeds of approximately $179.2 million (before deducting underwriting discount, commissions and offering expenses). GW has granted the underwriters a 30-day option to purchase up to an additional 240,000 ADSs at the public offering price less the underwriting discount. These ADSs were offered by GW pursuant to a shelf registration statement filed by GW with the Securities and Exchange Commission that became automatically effective on May 7, 2014. The offering of the ADSs was made only by means of a prospectus and prospectus supplement. * On April 28, 2015, GW Pharmaceuticals announced $ the pricing of an underwritten public offering by the Company. GW will issue 1,600,000 American Depositary Shares (“ADSs”), representing 19,200,000 ordinary shares of GW, at a price to the public of $112.00 per ADS on the NASDAQ Global Market, raising gross proceeds of approximately $179.2 million (before deducting underwriting discount, commissions and offering expenses). GW has granted the underwriters a 30-day option to purchase up to an additional 240,000 ADSs at the public offering price less the underwriting discount. Closing of the offering is expected to occur on May 5, 2015. Morgan Stanley, BofA Merrill Lynch and Cowen and Company are acting as joint book-running managers for the offering.Piper Jaffray & Co. is acting as lead manager. * On April 27, 2015, GW Pharmaceuticals announced that it intends to sell, subject to market and other conditions, 1,250,000 million American Depositary Shares (“ADSs”) representing ordinary shares of GW on the NASDAQ Global Market in an underwritten U.S. public offering. GW will grant the underwriters a 30-day option to purchase up to an additional 187,500 ADSs at the offering price. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The price for the offering has not yet been determined.
Therapeutic area: CNS diseases - Neurological diseases
