GW Pharma Closes $290mm Stock Sale

GW Pharm

GW Pharmaceuticals plc Announces the Closing of U.S. Public Offering of American Depositary Shares (ADSs) Raising $289.8 Million on the NASDAQ Global Market and Full Exercise of Underwriter’s Option to Purchase Additional ADSs

LONDON, July 18, 2016 (GLOBE NEWSWIRE) — 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 the previously announced offering on the NASDAQ Global Market by GW of 2,800,000 of American Depositary Shares (ADSs) and the full exercise by the underwriters of their option to purchase 420,000 additional ADSs from GW at a price of $90.00 per ADS, raising gross proceeds of $289,800,000 (before deducting underwriting discounts, commissions and offering expenses).

Morgan Stanley, BofA Merrill Lynch and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Cowen and Company is acting as lead manager and Piper Jaffray is acting as manager.

Original press release: http://ir.gwpharm.com/releasedetail.cfm?ReleaseID=979928

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