GW Pharmaceuticals PLC- ADR(NASDAQ:GWPH) Closes Public Offering of American Depositary Shares

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GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) , a biopharmaceutical company, has closed the previously announced offering on the NASDAQ Global Market by GW Pharmaceuticals and certain of its selling shareholders of 1.7 million American Depositary Shares (ADS) and the full exercise by the underwriters of their option to purchase 255,000 additional ADSs from GW Pharmaceuticals at a price of $86.83 per ADS. 

The ADS sold in the offering consisted of 1.455 million ADS sold by the company, and 500,000 ADS sold by the selling shareholders, and raised gross proceeds to GW Pharmaceuticals of $126.3 million before deducting underwriting discount, commissions and offering expenses. 

GW Pharmaceuticals (NASDAQ:GWPH) said that it did not receive any proceeds from the sale of ADS by the selling shareholders in this offering. 

Shares in GW Pharmaceuticals were down 1.3% to $89.93 on Wednesday morning. This is at the upper end of the company’s 52-week range, which has seen a share price high of $97.64 and a low of $8.50.

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