MediWound Down 12% In Pre-market After Privately Placing 1.45 Mln Shares

(RTTNews) - Shares of biopharmaceutical company MediWound Ltd. (MDWD) were down more than 12 percent in pre-market on Monday to $18.60, after announcing private placement of 1.45 million shares at $17.20 per share.

The company has entered into share purchase agreement with several new and existing investors, including Molnlycke Health Care, a MedTech company specializing in solutions for wound care and surgical procedures.

MediWound intends to use the gross proceeds from the private investment in public equity or PIPE offering of $25 million to advance EscharEx pre-commercial activities, accelerate the development of large-scale manufacturing capabilities specifically for EscharEx, and for general corporate purposes.

MediWound shares had closed at $21.16, up 5.27 percent on Friday. The stock has traded in the range of $7.10 - $24.00 in the last 1 year.