LONDON, May 5, 2015 /PRNewswire/ -- GW Pharmaceuticals
plc (Nasdaq: GWPH, AIM: GWP, "GW" or the "Company"), a
biopharmaceutical company focused on discovering, developing and
commercializing novel therapeutics from its proprietary cannabinoid
product platform, announced today the closing of the previously
announced offering on the NASDAQ Global Market by GW of 1,600,000
American Depositary Shares (ADSs) at a price of $112.00 per ADS, raising gross proceeds of
approximately $179.2 million (before
deducting underwriting discount, commissions and offering
expenses). GW has granted the underwriters a 30-day option to
purchase up to an additional 240,000 ADSs at the public offering
price less the underwriting discount.
Morgan Stanley, BofA Merrill Lynch and Cowen and Company acted
as joint book-running managers for the offering. Piper Jaffray & Co. acted as lead
manager.
The ADSs described above were offered by GW pursuant to a shelf
registration statement filed by GW with the Securities and Exchange
Commission ("SEC") that became automatically effective on
May 7, 2014. The offering of the ADSs
was made only by means of a prospectus and prospectus supplement.
You may obtain these documents on the SEC's website at
http://www.sec.gov. Alternatively, the prospectus and prospectus
supplement may be obtained from Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor,
New York, New York 10014; BofA
Merrill Lynch, 222 Broadway, New York,
NY 10038, attention: Prospectus Department, email:
dg.prospectus_requests@baml.com; Cowen and Company, LLC, c/o
Broadridge Financial Services, 1155 Long Island Avenue,
Edgewood, NY, 11717, Attn:
Prospectus Department; or from Piper
Jaffray & Co., Attention: Prospectus Department, 800
Nicollet Mall, J12S03, Minneapolis,
MN 55402.
This press release shall not constitute an offer to sell or the
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 registration or
qualification under the securities laws of any such state or
jurisdiction.
About GW Pharmaceuticals plc
Founded in 1998, GW is a biopharmaceutical company focused on
discovering, developing and commercializing novel therapeutics from
its proprietary cannabinoid product platform in a broad range of
disease areas. GW commercialized the world's first plant-derived
cannabinoid prescription drug, Sativex®, which is
approved for the treatment of spasticity due to multiple sclerosis
in 27 countries outside the United
States. GW is advancing an orphan drug program in the field
of childhood epilepsy with a focus on Epidiolex®, which
is in Phase 3 clinical development for the treatment of Dravet
syndrome and which is also expected to enter Phase 3 clinical
trials in the treatment of Lennox-Gastaut syndrome and Tuberous
Sclerosis Complex. GW has a deep pipeline of additional cannabinoid
product candidates which includes Sativex in Phase 3 clinical
development as a potential treatment of pain associated with
advanced cancer, as well as compounds in Phase 1 and 2 trials for
glioma, ulcerative colitis, type 2 diabetes, and schizophrenia. For
further information, please visit
www.gwpharm.com.
For readers in the European Economic Area
In any EEA Member State that has implemented the Prospectus
Directive, this communication is only addressed to and directed at
qualified investors in that Member State within the meaning of the
Prospectus Directive. The term "Prospectus Directive" means
Directive 2003/71/EC (and amendments thereto, including Directive
2010/73/EU, to the extent implemented in each relevant Member
State), together with any relevant implementing measure in the
relevant Member State.
For readers in the United
Kingdom
This communication, in so far as it constitutes an invitation
or inducement to enter into investment activity (within the meaning
of s21 Financial Services and Markets Act 2000 as amended) in
connection with the securities which are the subject of the
offering described in this press release or otherwise, is being
directed only at (i) persons who are outside the United Kingdom or (ii) persons who have
professional experience in matters relating to investments who fall
within Article 19(5) ("Investment professionals") of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
"Order") or (iii) certain high value persons and entities who fall
within Article 49(2)(a) to (d) ("High net worth companies,
unincorporated associations etc") of the Order; or (iv) any other
person to whom it may lawfully be communicated (all such persons in
(i) to (iv) together being referred to as "relevant persons"). The
ADSs are only available to, and any invitation, offer or agreement
to subscribe, purchase or otherwise acquire such ADSs will be
engaged in only with, relevant persons. Any person who is not a
relevant person should not act or rely on this document or any of
its contents.
Forward-looking statements
This news release may contain forward-looking statements that
reflect GW's current expectations regarding future events,
including statements regarding the therapeutic benefit, safety
profile and commercial value of the company's investigational drug
Epidiolex®, the development and commercialization of Epidiolex,
plans and objectives for product development, plans and objectives
for present and future clinical trials and results of such trials,
plans and objectives for regulatory approval. Forward-looking
statements involve risks and uncertainties. Actual events could
differ materially from those projected herein and depend on a
number of factors, including (inter alia), the success of the GW's
research strategies, the applicability of the discoveries made
therein, the successful and timely completion of uncertainties
related to the regulatory process, and the acceptance of Sativex®,
Epidiolex®, and other products, if approved, by consumer and
medical professionals. A further list and description of risks,
uncertainties and other risks associated with an investment in GW
can be found in GW's filings with the U.S. Securities and Exchange
Commission, including its shelf registration statement and the
documents incorporated by reference therein. Existing and
prospective investors are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. GW undertakes no obligation to update or revise the
information contained in this press release, whether as a result of
new information, future events or circumstances or
otherwise.