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GW Pharmaceuticals raises US$179mln in US

GW Pharmaceuticals raises US$179mln in US

GW Pharmaceuticals (LON:GWP), the maker of cannabis based drug treatments, has closed a US$179mln funding in North America.

The Salisbury based pharmaceutical firm is issuing 1.6mln American Depositary Shares priced at US$112 each. The underwriters of the offer now have the option to purchase an additional 240,000 ADS.

ADS issued through the offer will be listed on the NASDAQ Global Market.

The offer was facilitated by Morgan Stanley, BofA Merrill Lynch and Cowen and Company which acted as the joint book-running managers, while Piper Jaffray & Co was the lead manager.

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