GW Pharma raises capital and certain shareholders cash out

|About: GW Pharmaceuticals plc (GWPH)|By:, SA News Editor

GW Pharmaceuticals (GWPH) files to sell 1.2M American Depository Shares (ADS) and certain shareholders 500K ADSs. Each ADS represents ownership of 12 GWPH ordinary shares. Underwriters over-allotment is 255K ADSs. Proceeds to be used to fund pre-launch activities for Epidiolex in the U.S. including expanding the growing and manufacturing operations and build-up of inventory, the advancement of other early-stage pipeline opportunities (focused on orphan diseases) and general corporate purposes.

On June 16, 2014 the latest reported price/ADS was $77.25.