Intec Pharma Ltd. (NASDAQ and TASE: NTEC) today announced the pricing of an underwritten public offering of approximately 10.6 million of its ordinary shares at a public offering price of $4.70 per ordinary share. The gross proceeds of the offering are expected to be approximately $50.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

The offering is expected to close on or about August 21, 2017, subject to customary closing conditions. Intec Pharma has granted the underwriters a 30-day option to purchase up to approximately 1.6 million additional ordinary shares to cover over-allotments.

Oppenheimer & Co. Inc. is acting as the sole book-running manager, Roth Capital Partners is acting as lead manager, and Maxim Group is acting as co-manager in the offering.

If the over-allotment option is exercised in full, gross proceeds of the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $57.5 million.

Intec Pharma intends to use the net proceeds from this offering to fund its Phase III clinical trial for Accordion Pill Carbidopa/Levodopa, the company’s leading product candidate for the indication of treatment of Parkinson’s disease symptoms in advanced Parkinson’s disease patients, for working capital and for general corporate purposes.

The ordinary shares described above will be issued pursuant to a registration statement on Form F-3 previously filed with and subsequently declared effective by the Securities and Exchange Commission (SEC) on June 19, 2017. A preliminary prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at http://www.sec.gov.