On February 10, 2020 Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE:CFBI), a biotechnology company advancing a pipeline of proprietary small molecule drugs that address cancer, liver and inflammatory diseases, reported the pricing of a public offering of 3,333,334 units at a price to the public of $1.50 per unit (Press release, Can-Fite BioPharma, FEB 10, 2020, View Source [SID1234554082]). The Company expects to receive aggregate gross proceeds of approximately $5.0 million from the offering, before deducting the placement agent fees and estimated offering expenses. Each unit is comprised of one American Depositary Share (ADS) (or ADS equivalent) and one warrant to purchase one ADS at an exercise price of 1.50 per ADS. The warrants are immediately exercisable upon issuance and have a term of five years. Each ADS represents 30 ordinary shares of the Company. The ADSs (or ADS equivalents) and the accompanying warrants included in the units can only be purchased together in this offering, but will be issued separately and will be immediately separable upon issuance.
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H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The offering is expected to close on or about February 12, 2020, subject to satisfaction of customary closing conditions.
A registration statement on Form F-1 (File No. 333-236064) relating to the public offering of the securities described above was filed with the Securities and Exchange Commission ("SEC") and was declared effective on February 10, 2020. The offering is being made only by means of a prospectus forming part of the effective registration statement. Copies of the preliminary prospectus and, when available, copies of the final prospectus, relating to the offering may be obtained for free by visiting the SEC’s website at View Source Electronic copies of the final prospectus relating to the offering may be obtained, when available, by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by calling (646) 975-6996 or by emailing [email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein. There shall not be any offer, solicitation of an offer to buy, or sale of securities in any state or jurisdiction in which such an offering, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.