MediWound Announces Exercise of Over-Allotment Option
MediWound Ltd. (Nasdaq: MDWD) announced the partial exercise of an over-allotment option from its recent public offering, closing on March 22, 2022. The underwriter purchased an additional 623,082 ordinary shares, raising approximately $1.2 million. This brings the total funds raised in the offering to $11.2 million. MediWound plans to utilize the proceeds for working capital and corporate purposes. The offering was conducted under a previously filed shelf registration statement with the SEC.
- Raised a total of $11.2 million from the public offering.
- Utilizing proceeds for working capital and corporate purposes, which can enhance operational flexibility.
- None.
YAVNE, Israel, March 22, 2022 (GLOBE NEWSWIRE) -- MediWound Ltd. (Nasdaq: MDWD) (“MediWound”), a biopharmaceutical company that develops, manufactures and commercializes novel, cost effective, bio-therapeutic solutions for tissue repair and regeneration, today announced that the underwriter of its recently completed public offering of ordinary shares, which closed on March 7, 2022, partially exercised their over-allotment option, having purchased an additional 623,082 ordinary shares. The closing of the partial exercise of the option occurred on March 22, 2022.
The gross proceeds of approximately
Oppenheimer & Co. Inc. acted as the sole book-running manager for the offering.
The offering was made pursuant to a shelf registration statement on Form F-3 (No. 333-230490) previously filed by MediWound with the United States Securities and Exchange Commission (“SEC”) on March 25, 2019 and declared effective by the SEC on April 22, 2019. The offering was made by means of a prospectus and prospectus supplement that form a part of the registration statement. The final prospectus supplement and accompanying prospectus related to the offering was filed with the SEC on March 3, 2022 and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus may also be obtained from Oppenheimer & Co. Inc., 85 Broad Street, 26th Floor, New York, NY 10004, Attn: Syndicate Prospectus Department, telephone: (212) 667-8055 or by email at EquityProspectus@opco.com.
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 other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About MediWound Ltd.
MediWound is a biopharmaceutical company that develops, manufactures, and commercializes novel, cost effective, bio-therapeutic solutions for tissue repair and regeneration. Our strategy leverages our enzymatic technology platform, focused on next-generation bioactive therapies for burn care, wound care and tissue repair. NexoBrid, our commercial orphan biological product for non-surgical eschar removal of deep-partial and full-thickness thermal burns, is a bromelain-based biological product containing a sterile mixture of proteolytic enzymes that selectively removes burn eschar within four hours without harming surrounding viable tissue. NexoBrid is currently marketed in the European Union and other international markets and is at registration-stage in the U.S. NexoBrid is supported by the U.S. Biomedical Advanced Research and Development Authority (BARDA), office of the Assistant Secretary for Preparedness and Response, U.S. Department of Health and Human Services. EscharEx®, MediWound’s next-generation bioactive topical therapeutic under development in the U.S. for debridement of chronic and hard to heal wounds. In two Phase 2 studies, EscharEx was well-tolerated and has demonstrated safety and efficacy in the debridement of various chronic and other hard-to-heal wounds, within a few daily applications. MW005, is a topical biological drug for the treatment of non-melanoma skin cancers, is a clinical-stage product candidate under development.
Forward-Looking Statements
This release includes forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, such as statements regarding MediWound’s public offering and MediWound’s expected use of proceeds from the public offering and plans and prospects for MediWound. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. Forward-looking statements are based on MediWound's beliefs, assumptions and expectations of future performance, taking into account the information currently available to it. These statements are only predictions based upon MediWound’s current expectations and projections about future events. There are important factors that could cause MediWound’s actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. In particular, you should consider the risks detailed in the preliminary prospectus supplement and accompanying prospectus relating to the offering and in MediWound’s annual report on Form 20-F for the year ended December 31, 2021 and information contained in other documents filed with the SEC, in each case under the heading “Risk Factors.” You should not rely upon forward-looking statements as predictions of future events. Although MediWound believes that the expectations reflected in the forward-looking statements are reasonable, MediWound cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. The forward-looking statements made herein speak only as of the date of this announcement and MediWound undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.
Investor Contacts
| Boaz Gur-Lavie Chief Financial Officer MediWound Ltd. ir@mediwound.com | Monique Kosse Managing Director, LifeSci Advisors 212-915-3820 monique@lifesciadvisors.com |
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