News Column

GW Pharmaceuticals To Sell 1.7 Million American Depositary Shares

June 18, 2014

Hana Stewart-Smith

LONDON (Alliance News) - GW Pharmaceuticals PLC Wednesday announced plans to sell 1.7 million American depositary shares representing GW ordinary shares, in a public offering on the NASDAQ.

The price of the offering has not yet been decided. GW and some of its shareholders intend to sell the ADSs in an underwritten offering. It also will grant the underwriters a 30-day option to purchase up to an additional 255,000 ADSs at the offer price, which has not yet been set.

Morgan Stanley, Bank of America Merill Lynch and Cowen and Co will act as joint book-running managers for the offering. Piper Jaffray is acting as lead manager.

Shares in GW Pharmaceuticals were trading down 6.2% at 402.25 pence Wednesday morning.

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Source: Alliance News

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