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RNS Number : 1842E
GW Pharmaceuticals PLC
08 May 2013
GW Pharmaceuticals plc Announces the Closing of its Initial
Public Offering on the Nasdaq Global Market
London, UK, 8 May 2013: GW Pharmaceuticals plc (Nasdaq: GWPH,
AIM: GWP, "GW" or the "Company"), a biopharmaceutical company
focused on discovering, developing and commercializing novel
therapeutics from its proprietary cannabinoid product platform,
announced today the closing of its previously announced initial
public offering of 3,500,000 American Depository Shares (ADSs) at a
price to the public of $8.90 per share. The Company has granted the
underwriters an option to purchase up to 525,000 additional ADSs at
the initial public offering price to cover over-allotments, if any.
GW's ADSs are listed on the NASDAQ Global Market under the trading
symbol "GWPH" and began trading on May 1.
Lazard Capital Markets LLC and Cowen and Company, LLC acted as
joint book-running managers for the offering. Canaccord Genuity
acted as co-lead manager and Roth Capital Partners acted as
co-manager.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on May
1, 2013. Copies of the final prospectus relating to this offering
may be obtained from: Lazard Capital Markets LLC, Attn: Syndicate
Department, 30 Rockefeller Plaza, 48th Floor, New York, NY 10020,
Telephone: (800) 542-0970; from Cowen and Company, LLC, c/o
Broadridge Financial Services, 1155 Long Island Avenue, Edgewood,
NY,11717, Attn: Prospectus Department, Phone (631) 274-2806 / Fax
(631) 254-7140; from Canaccord Genuity Inc., Attention: Syndicate
Department, 99 High Street, 12th Floor, Boston, Massachusetts
02110, or by telephone at (617) 371-3900; and from Roth Capital
Partners, LLC, Equity Capital Markets, 888 San Clemente Drive,
Newport Beach, CA 92660, at 800-678-9147 and Rothecm@roth.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or other jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction.
This press release is not directed to, or intended for
distribution or use by, any person or entity that is a citizen or
resident or located in any locality, state, country or other
jurisdiction where such distribution, publication, availability or
use would be contrary to law or regulation or which would require
any registration or licensing within such jurisdiction.
The distribution of this press release into jurisdictions other
than the UK may be restricted by law. Persons into whose possession
this announcement come should inform themselves about and observe
any such restrictions.
About GW Pharmaceuticals plc
Founded in 1998, GW is a biopharmaceutical company focused on
discovering, developing and commercializing novel therapeutics from
its proprietary cannabinoid product platform in a broad range of
disease areas. GW commercialized the world's first plant-derived
cannabinoid prescription drug, Sativex(R), which is approved for
the treatment of spasticity due to multiple sclerosis in 21
countries. Sativex(R) is also in Phase 3 clinical development as a
potential treatment of pain in people with advanced cancer. This
Phase 3 program is intended to support the submission of a New Drug
Application for Sativex(R) in cancer pain with the U.S. Food and
Drug Administration and in other markets around the world. GW has
established a world leading position in the development of
plant-derived cannabinoid therapeutics and has a deep pipeline of
additional cannabinoid product candidates, including two distinct
compounds, GWP42004 and GWP42003, in Phase 2 clinical development
for Type 2 diabetes and ulcerative colitis, respectively, and at
least two additional programs expected to enter Phase 1 and Phase 2
clinical trials in the next 12 months. For further information,
please visit www.gwpharm.com
Forward-looking statements
This news release may contain forward-looking statements that
reflect GWs current expectations regarding future events.
Forward-looking statements involve risks and uncertainties. Actual
events could differ materially from those projected herein and
depend on a number of factors, including (inter alia), the success
of the GW's research strategies, the applicability of the
discoveries made therein, the successful and timely completion of
uncertainties related to the regulatory process, and the acceptance
of Sativex(R) and other products by consumer and medical
professionals. A further list and description of risks,
uncertainties and other risks associated with an investment in GW
can be found in GW's filings with the U.S. Securities and Exchange
Commission, including its most recent Form F-1. Existing and
prospective investors are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. GW undertakes no obligation to update or revise the
information contained in this press release, whether as a result of
new information, future events or circumstances or otherwise.
Enquiries:
GW Pharmaceuticals plc
Justin Gover, CEO
+44 1980 557000
Stephen Schultz, VP Investor Relations
+ 1 401 500 6570
FTI Consulting
Ben Atwell / Simon Conway / John Dineen (European media
enquiries)
+44 20 7831 3113
Robert Stanislaro (US media enquiries)
+1 212 850 5657
Trout Group, LLC (US investor relations)
Jonathan Fassberg / Seth Lewis / Danielle Spangler
+1 646 378 2900
Peel Hunt LLP (UK Nominated Adviser and Broker)
James Steel / Vijay Barathan
+44 20 7418 8900
For readers in the European Economic Area
In any EEA Member State that has implemented the Prospectus
Directive, this communication is only addressed to and directed at
qualified investors in that Member State within the meaning of the
Prospectus Directive. The term "Prospectus Directive" means
Directive 2003/71/EC (and amendments thereto, including Directive
2010/73/EU, to the extent implemented in each relevant Member
State), together with any relevant implementing measure in the
relevant Member State.
For readers in the United Kingdom
This communication, in so far as it constitutes an invitation or
inducement to enter into investment activity (within the meaning of
s21 Financial Services and Markets Act 2000 as amended) in
connection with the securities which are the subject of the
offering referred to above or otherwise, is being directed only at
(i) persons who are outside the United Kingdom or (ii) persons who
have professional experience in matters relating to investments who
fall within Article 19(5) ("Investment professionals") of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (the "Order") or (iii) certain high value persons and entities
who fall within Article 49(2)(a) to (d) ("High net worth companies,
unincorporated associations etc") of the Order; or (iv) any other
person to whom it may lawfully be communicated (all such persons in
(i) to (iv) together being referred to as "relevant persons"). The
ADSs are only available to, and any invitation, offer or agreement
to subscribe, purchase or otherwise acquire such ADSs will be
engaged in only with, relevant persons. Any person who is not a
relevant person should not act or rely on this communication or any
of its contents.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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