Brainsway Ltd. (BWAY) Prices 2.5M ADS IPO at $11/ADS

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Brainsway Ltd. Announces Pricing of Initial Public Offering of 2.5 Million American Depositary Shares

April 16, 2019 8:55 PM EDT

JERUSALEM, Israel, April 16, 2019 (GLOBE NEWSWIRE) -- Brainsway Ltd. (NASDAQ: BWAY and TASE: BRIN) (Brainsway) today announced that it has priced its initial public offering of 2,500,000 American Depositary Shares (ADSs), each representing two ordinary shares of Brainsway, at a public offering price of $11.00 per ADS. The gross proceeds to Brainsway from the offering, before deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $27.5 million.

The underwriters have been granted an option to purchase up to an additional 375,000 ADSs offered by Brainsway for... More