28th Apr 2015 07:30
LONDON (Alliance News) - GW Pharmaceuticals PLC Tuesday said it intends to sell 1.3 million American Depositary Shares in an underwritten US public offering.
The biopharmaceutical company also said it will grant the underwriters a 30-day option to purchase up to an additional 187,500 ADSs at the offer price.
Morgan Stanley, BofA Merrill Lynch and Cowen and Co are acting as joint book-running managers for the offering, while Piper Jaffray & Co. is acting as lead manager.
GW Pharma shares were down 6.8% at 622.58 pence in London Tuesday morning. Its Nasdaq-listed American Depositary Receipts had fallen 4.8% to USD115.23 on Monday.
By Steve McGrath; [email protected]; @stevemcgrath1
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