GW Pharmaceuticals nets $325.4mm in FOPO
GW Pharmaceuticals PLC (cannabinoid products) netted $325.4mm in a follow-on public offering of 2.2mm American Depositary Shares (ADS; including full exercise of the over-allotment option represents 26.2mm ordinary shares) at $158 per ADS on the Nasdaq. The company plans to use the offering proceeds to fund US launch activities for Epidiolex (pharmaceutical oral formulation of cannabidiol, approved for the treatment of seizures associated with lennox-gastaut syndrome or Dravet syndrome); pre-launch commercialization activities of the drug in Europe; and further expansion of its manufacturing capability.
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