GH Research PLC announces a $150 million public offering of 10 million shares at $15 each, closing February 6, 2025.
Quiver AI Summary
GH Research PLC has announced the pricing of an underwritten public offering of 10,000,000 ordinary shares in the U.S. at a price of $15.00 per share, aiming to raise approximately $150 million. The offering is expected to close on February 6, 2025, pending customary closing conditions. The company has granted underwriters a 30-day option to purchase an additional 1,500,000 shares at the same price. Cantor, Stifel, and RBC Capital Markets are leading the offering, with additional co-lead managers. The registration statement for these securities was filed with the SEC and can be accessed online. This announcement does not constitute an offer to sell securities in jurisdictions where it would be unlawful. GH Research focuses on developing innovative treatments for depression, specifically targeting treatment-resistant depression with its mebufotenin therapies.
Potential Positives
- GH Research PLC has successfully priced a public offering of 10,000,000 ordinary shares, raising approximately $150 million, which can be significant for funding its developmental projects.
- The offering includes a 30-day option for underwriters to purchase an additional 1,500,000 shares, which could provide potential for further capital if exercised.
- The transaction involves reputable joint book-running managers, indicating confidence in the offering and the company's market position.
- The press release highlights GH Research PLC's commitment to advancing treatment options in depression, reinforcing its mission-driven focus and potential market impact.
Potential Negatives
- The announcement of a significant public offering of 10 million shares may dilute existing shareholders' equity, potentially leading to reduced shareholder value.
- The need for a public offering at this stage may raise concerns about the company's financial health and ability to fund operations without additional capital.
- The language regarding the uncertainty of the offering's completion and its dependency on market conditions could create apprehension among investors about the company's stability and future prospects.
FAQ
What is the total gross proceeds from GH Research PLC's public offering?
The total gross proceeds from GH Research PLC's public offering is approximately $150 million.
When is the closing date for the stock offering?
The offering is expected to close on February 6, 2025, subject to customary closing conditions.
Which companies are managing the public offering?
Cantor, Stifel, and RBC Capital Markets are acting as joint book-running managers for the offering.
What are the proposed securities offered for sale?
GH Research PLC is offering 10,000,000 ordinary shares at a public offering price of $15.00 per share.
How can investors access the registration statement for this offering?
Investors can access the registration statement through the SEC's website at www.sec.gov free of charge.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$GHRS Hedge Fund Activity
We have seen 10 institutional investors add shares of $GHRS stock to their portfolio, and 11 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- LYNX1 CAPITAL MANAGEMENT LP added 229,168 shares (+5.8%) to their portfolio in Q3 2024, for an estimated $1,533,133
- FMR LLC removed 220,929 shares (-7.4%) from their portfolio in Q3 2024, for an estimated $1,478,015
- RA CAPITAL MANAGEMENT, L.P. added 85,000 shares (+1.3%) to their portfolio in Q3 2024, for an estimated $568,650
- VERITION FUND MANAGEMENT LLC removed 82,850 shares (-7.3%) from their portfolio in Q3 2024, for an estimated $554,266
- CITADEL ADVISORS LLC added 58,225 shares (+37.0%) to their portfolio in Q3 2024, for an estimated $389,525
- WOODLINE PARTNERS LP added 37,238 shares (+inf%) to their portfolio in Q3 2024, for an estimated $249,122
- MORGAN STANLEY removed 33,325 shares (-11.4%) from their portfolio in Q3 2024, for an estimated $222,944
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DUBLIN, Feb. 05, 2025 (GLOBE NEWSWIRE) -- GH Research PLC (Nasdaq: GHRS), a clinical-stage biopharmaceutical company dedicated to transforming the lives of patients by developing a practice-changing treatment in depression, today announced the pricing of its previously announced underwritten public offering in the United States of 10,000,000 ordinary shares at a public offering price of $15.00 per share for total gross proceeds of approximately $150 million. All of the ordinary shares are being offered by GH Research PLC. The offering is expected to close on February 6, 2025, subject to customary closing conditions. In addition, GH Research PLC has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 ordinary shares at the public offering price, less underwriting discounts and commissions.
Cantor, Stifel and RBC Capital Markets are acting as joint book-running managers for the offering. Canaccord Genuity and Citizens JMP are acting as co-lead managers for the offering.
A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective on March 17, 2023. Copies of the registration statement can be accessed through the SEC's website free of charge at www.sec.gov. A preliminary prospectus supplement and an accompanying prospectus relating to and describing the terms of the offering were filed with the SEC and are available free of charge by visiting EDGAR on the SEC's website free of charge at www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus related to the offering can be accessed through the SEC's website free of charge at www.sec.gov or obtained free of charge from any of the joint book-running managers for the offering: Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at
prospectus@cantor.com
; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, by telephone at (415) 364-2720, or by email at
syndprospectus@stifel.com
; or RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, New York, New York 10281, by telephone at 877-822-4089 or by email at
equityprospectus@rbccm.com
. For the avoidance of doubt, any such prospectus supplement or the accompanying prospectus will not constitute a “prospectus” for the purposes of the Irish Companies Act 2014 (as amended), the EU Prospectus Regulation (EU) 2017/1129 (as amended) (the “Prospectus Regulation”), the European Union (Prospectus) Regulations 2019 of Ireland (as amended) or the Central Bank (Investment Market Conduct) Rules 2019 of Ireland and will not have been reviewed by Central Bank of Ireland, as competent authority, or any competent authority in any European Economic Area (the "EEA") member state or the United Kingdom.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
In any member state of the EEA this announcement and any offering are only addressed to and directed at persons who are "qualified investors" ("Qualified Investors") within the meaning of the Prospectus Regulation. In the United Kingdom, this announcement and any offering are only addressed to and directed at Qualified Investors (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or (ii) who fall within Article 49(2)(a) to (d) of the Order, and (iii) to whom it may otherwise lawfully be communicated (all such persons being referred to as "relevant persons").
This announcement must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the EEA, by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is available only to and will only be engaged with (i) in the United Kingdom, relevant persons, and (ii) in any member state of the EEA, Qualified Investors.
About GH Research PLC
GH Research PLC is a clinical-stage biopharmaceutical company dedicated to transforming the lives of patients by developing a practice-changing treatment in depression. GH Research PLC's initial focus is on developing its novel and proprietary mebufotenin therapies for the treatment of patients with treatment-resistant depression (TRD).
Forward-Looking Statements
This press release contains certain forward-looking statements, including statements with regard to GH Research PLC’s expectations regarding the completion of the proposed securities offering. Words such as “anticipates,” “believes,” “expects,” “intends,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the proposed securities offering discussed above will be consummated on the terms described or at all. Completion of the proposed offering and the terms thereof are subject to numerous factors, many of which are beyond the control of GH Research PLC, including, without limitation, market conditions, failure of customary closing conditions and the risk factors and other matters set forth in GH Research PLC’s filings with the SEC. GH Research PLC undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Investor Relations
Julie Ryan
GH Research PLC
investors@ghres.com
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
