Intec Pharma Announces Pricing of $6.5 Million Public Offering

JERUSALEM, Jan. 30, 2020 (GLOBE NEWSWIRE) -- Intec Pharma Ltd. (NASDAQ: NTEC) ("Intec" or "the Company") today announced the pricing of its previously announced underwritten public offering of 16,250,000 ordinary shares (which includes pre-funded warrants to purchase ordinary shares in lieu thereof) and warrants to purchase up to 16,250,000 ordinary shares, at a public offering price of $0.40 per ordinary share. The warrants have an exercise price of $0.40 per share, are immediately exercisable, and will expire five years from the date of issuance.  In addition, the Company granted the underwriter a 30-day option to purchase up to an additional 2,437,500 ordinary shares and/or warrants to purchase up to 2,437,500 ordinary shares at the public offering price, less underwriting discounts and commissions. The Company expects to receive gross proceeds of $6.5 million from the offering. The offering is expected to close on or about February 4, 2020, subject to customary closing conditions.

H.C. Wainwright & Co. is acting as sole book-running manager for the offering.

A shelf registration statement on Form S-3 relating to the securities being sold in the public offering described above was filed with the U.S. Securities and Exchange Commission (SEC) on March 1, 2019, and was declared effective on March 28, 2019. The offering is being made only by means of a prospectus supplement and accompanying prospectus. A preliminary prospectus supplement and accompanying prospectus relating to the public offering has been filed with the SEC and a final prospectus supplement and accompanying prospectus will be filed with the SEC and, when available, may be obtained for free on the SEC's website located at http://www.sec.gov. When available, electronic copies of the final prospectus supplement and accompanying prospectus relating to the public offering may be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, or by telephone at [phone], or by email to [e-mail]. 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.