On January 18, 2019 Kitov Pharma Ltd. (NASDAQ/TASE: KTOV), an innovative pharmaceutical company, reported the closing of its previously announced registered direct offering of 3,428,572 American Depositary Shares (ADS) at a purchase price of $1.75 per ADS, for gross proceeds of $6 million (Press release, Kitov Pharmaceuticals , JAN 18, 2019, View Source [SID1234532789]).
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Kitov also issued unregistered warrants to purchase up to 2,571,430 ADSs. The warrants have a term of 5.5 years, are exercisable immediately and have an exercise price of $2.00 per ADS
H.C. Wainwright & Co. acted as the exclusive placement agent in connection with this offering.
The ADSs described above were offered pursuant to a shelf registration statement on Form F-3 (File No. 333-215037), which was declared effective by the United States Securities and Exchange Commission (the "SEC") on December 14, 2016. Such ADSs were offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.
Copies of the final prospectus supplement and the accompanying prospectus relating to the registered direct offering may be obtained at the SEC’s website at View Source and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by calling (646) 975-6996 or emailing [email protected].
The warrants described above were offered in a private placement pursuant to an applicable exemption from the registration requirements of the Securities Act of 1933, as amended (the "Act"), and, along with the ADSs issuable upon their exercise, have not been registered under the Act, and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.