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Celsus Therapeutics PLC announces the closing of $9.2 mln public offering and full exercise of underwriter's option to purchase additional ADSs


Wednesday, 5 Feb 2014 04:05pm EST 

Celsus Therapeutics PLC:Says the closing of its previously announced public offering of 1,533,333 American Depository Shares on the NASDAQ Capital Market at a price of $6.00 per ADS. The final number of ADSs includes the full exercise by the underwriter of its option to purchase 200,000 additional ADSs.Each ADS represents ten of the company's ordinary shares.Says gross proceeds from this offering, including from the exercise of the over-allotment option, before underwriting discounts and commissions and other offering expenses, are expected to be about $9,200,000.The proceeds from the offering are to be used by Celsus to continue development of MRX-6 for atopic dermatitis, as well as further advancement of Celsus's pipeline programs, for further product development and for general corporate purposes.