LONDON, July 12, 2016 (GLOBE NEWSWIRE) — 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 pricing of an underwritten public offering by the Company. GW will issue 2,800,000 of American Depositary Shares (“ADSs”), representing 33,600,000 ordinary shares of GW, at a price to the public of $90.00 per ADS on the NASDAQ Global Market, raising gross proceeds of approximately $252,000,000 (before deducting underwriting discounts, commissions and offering expenses). GW has granted the underwriters a 30-day option to purchase up to an additional 420,000 ADSs at the public offering price less underwriting discounts and commissions. Closing of the offering is expected to occur on July 18, 2016.
Morgan Stanley, BofA Merrill Lynch and Goldman, Sachs Co. are acting