Check-Cap to price IPO of 1.2 million shares between $10.00 and $12.00

Chardan Capital Markets and Maxim Group are the bookrunning managers

By Devika Patel

Knoxville, Tenn., Jan. 16 – Check-Cap Ltd. will sell 1.2 million common shares in its initial public offering with a 30-day greenshoe option of 180,000 additional shares, according to a Form F-1/A filed Friday with the Securities and Exchange Commission. The deal was announced Dec. 23.

The shares will be sold at a price expected to fall between $10.00 and $12.00 per share.

Chardan Capital Markets, LLC and Maxim Group LLC are the bookrunning managers. Feltl and Co. is the co-manager.

Proceeds will be used for research and development, for clinical trials, to build manufacturing facilities and for working capital and for other general corporate purposes.

The medical diagnostics company is based in Mount Carmel, Israel. The company intends to list its common stock on the Nasdaq stock exchange under the symbol “CHEK.”

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