TEL AVIV, Israel, March 22, 2017 /PRNewswire/ --
Therapix Biosciences Ltd. (NASDAQ: TRPX) (TASE: THXBY), a
specialty clinical-stage pharmaceutical company specializing in the
development of cannabinoid-based drugs, today announced the pricing
of its initial public offering in the
United States of 2,000,000 American Depository Shares
("ADSs"). Each ADS, representing 40 ordinary shares of the Company,
is offered at a price to the public of $6.00.
The gross proceeds to Therapix from this offering are expected
to be $12,000,000, prior to deducting
underwriting discounts, commissions and other offering expenses.
Therapix has granted the underwriters a 45-day option to purchase
up to an additional 300,000 ADSs to cover over-allotments, if
any.
Therapix plans to use the net proceeds from the offering to
advance the formulation and clinical development efforts for its
two lead product candidates, including Phase II clinical trials,
and for working capital and other general corporate purposes.
Therapix's ADSs are scheduled to begin trading on the NASDAQ
Capital Market on March 22, 2017,
under the symbol "TRPX". The offering is expected to close on or
about March 27, 2017, subject to
customary closing conditions.
Laidlaw & Company (UK) Ltd., is acting as the sole book
running manager for the offering.
The Securities and Exchange Commission declared effective a
registration statement on Form F-1 relating to these securities on
March 21, 2017. A final prospectus
relating to this offering will be filed with the SEC. The offering
is being made only by means of a prospectus. Copies of the
prospectus relating to the offering may be obtained by contacting
Laidlaw & Company (UK) Ltd., 546 5th Avenue,
New York, New York 10036,
telephone 212-953-4917, email: syndicate@laidlawltd.com. Investors
may also obtain these documents at no cost by visiting the
Securities and Exchange Commission's website at http://www.sec.gov
. Before you invest, you should read the prospectus and other
documents the Company has filed or will file with the Securities
and Exchange Commission for more complete information about the
Company and the offering.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or
jurisdiction.
About Therapix Biosciences Ltd.
Therapix Biosciences Ltd. is a specialty clinical-stage
pharmaceutical company led by an experienced team of senior
executives and scientists, focused on creating and enhancing a
portfolio of technologies and assets based on cannabinoid
pharmaceuticals. With this focus, the company has initiated two
internal drug development programs based on repurposing a U.S. Food
and Drug Administration, or FDA, approved synthetic cannabinoid
(dronabinol): Joint Pharma developing THX-TS01 targeted to the
treatment of Tourette Syndrome, and BrainBright Pharma developing
THX-ULD01 targeted to the high value and under-served market of
mild cognitive impairments.
Forward-Looking Statements
This press release contains forward-looking statements about the
Company's expectations, beliefs and intentions. Forward-looking
statements can be identified by the use of forward-looking words
such as "believe", "expect", "intend", "plan", "may", "should",
"could", "might", "seek", "target", "will", "project", "forecast",
"continue" or "anticipate" or their negatives or variations of
these words or other comparable words or by the fact that these
statements do not relate strictly to historical matters. For
example, forward-looking statements are used in this press release
when we discuss the expected timing of the closing of the offering,
the use of proceeds, the expected trading of the ADSs on Nasdaq and
the description of our technology and its proposed uses. These
forward-looking statements involve certain risks and uncertainties,
including, among others, risks impacting the ability of the Company
to complete any public offering of its securities because of
general market conditions or other factors and risks that could
cause the Company's results to differ materially from those
expected by Company management or otherwise described in or implied
by the statements in this press release. Any forward-looking
statement in this press release speaks only as of the date of this
press release. The Company undertakes no obligation to publicly
update or review any forward-looking statement, whether as a result
of new information, future developments or otherwise, except as may
be required by any applicable securities laws. More detailed
information about the risks and uncertainties affecting the Company
is contained under the heading "Risk Factors" in Therapix
Biosciences Ltd.'s Registration Statement on Form F-1 filed with
the SEC, which is available on the SEC's website,
http://www.sec.gov.
Contact:
Irit Radia
irit@goldfingercom.com
T: +972 (0)54-6699311
SOURCE Therapix Biosciences