Verona Pharma plc (AIM: VRP.L), a clinical-stage biopharmaceutical company focused on developing and commercialising innovative therapeutics for the treatment of respiratory diseases with significant unmet medical needs, announced today the filing of a registration statement on Form F-1 with the U.S. Securities Exchange Commission relating to a proposed initial public offering of its American Depositary Shares, representing ordinary shares, in the United States and a proposed concurrent private placement of its ordinary shares in Europe and other countries outside of the United States and Canada.
All ADSs and ordinary shares to be sold in the Global Offering will be offered by Verona Pharma. The number of ordinary shares to be represented by each ADS, the number of ADSs and ordinary shares to be offered and the price range for the Global Offering have not yet been determined. Verona Pharma has applied to have its ADSs listed on the NASDAQ Global Market under the symbol “VRNA”. Upon completion of the Global Offering, Verona Pharma’s ordinary shares will continue to be admitted to trading on the AIM market of the London Stock Exchange under the symbol “VRP”.
Jefferies and Stifel are acting as joint book-running managers for the Global Offering. Wedbush PacGrow and SunTrust Robinson Humphrey are acting as co-managers.
