Verona Pharma plc Announces Pricing of Upsized Underwritten Public Offering
LONDON and RALEIGH, N.C., Aug. 10, 2022 (GLOBE NEWSWIRE) — Verona Pharma plc (Nasdaq: VRNA) (“Verona Pharma” or the “Company”), a clinical-stage biopharmaceutical company focused on respiratory diseases, announced today the pricing of its upsized public offering of 12,400,000 American Depositary Shares (“ADSs”), each representing eight ordinary shares of Verona Pharma, nominal value £0.05 per share, at a price of $10.50 per ADS, for aggregate gross proceeds of $130.2 million before deducting underwriting discounts and commissions (the “Offering”). All ADSs in the Offering are being offered by Verona Pharma. In addition, Verona Pharma has granted the underwriters a 30-day option to purchase up to an additional 1,860,000 ADSs at the public offering price, less the underwriting discount and commission. The Offering is expected to close on August 15, 2022, subject to the satisfaction of customary closing conditions.
