RedHill Biopharma raises ATM capacity to $2.59 million under Form F-3 limit

RedHill Biopharma filed a prospectus supplement dated October 13, 2026 supplementing a prospectus originally dated August 19, 2024, filed under registration statement Form F-3 No. 333-281417.¹ The supplement updates an at-the-market sales arrangement with H.C. Wainwright & Co., LLC, which the company entered into on February 3, 2025, covering American Depositary Shares each representing ten thousand ordinary shares of no par value.¹

The filing's purpose is to raise the ceiling on how many ADSs can be sold under that agreement. RedHill said it is filing the supplement to increase the maximum aggregate offering amount of ADSs that may be offered, issued and sold under the Sales Agreement from the date of the filing.¹

The new capacity is set against a separate regulatory cap. After applying the $2,637,099 offering limit imposed by General Instruction I.B.5 of Form F-3, and subtracting amounts already sold under that same rule in the prior 12 months, RedHill said it may offer and sell additional ADSs worth up to $2,587,409, on top of $49,690.55 in ADSs already sold under the agreement.¹

The company disclosed the math behind that limit. As of the filing date, the market value of RedHill's outstanding ordinary shares held by non-affiliates was $7,911,299.70, based on 87,903,331,000 shares held by non-affiliates and a per-ADS price of $0.90, the Nasdaq closing price on August 31, 2026; the company had sold 54,954 ADSs for gross proceeds of $49,690.55 in the preceding 12 months.¹

Form F-3 rules cap such sales. Under General Instruction I.B.5, RedHill cannot sell securities in a public primary offering exceeding one-third of its public float in any 12-month period while that float remains below $75.0 million.¹ RedHill's ADSs trade on Nasdaq under "RDHL," and closed at $0.539 per ADS on October 9, 2026.¹