Kitov registers $11.5 million of stock for public offering of its ADS

Each American Depositary Share slated to represent 20 ordinary shares

By Devika Patel

Knoxville, Tenn., Sept. 24 – Kitov Pharmaceuticals Holdings Ltd. will price a public offering of 250,000 American Depositary Shares and 250,000 warrants with a 45-day greenshoe, according to a Form F-1 filed Thursday with the Securities and Exchange Commission. The company has registered up to $11,500,024 of underlying ordinary stock.

Each ADS represents 20 ordinary shares.

Rodman & Renshaw is the bookrunner.

Proceeds will be used for clinical development, for business development, to repay debt and for general corporate purposes, including working capital requirements.

The pharmaceutical company is based in Tel Aviv.

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