RedHill Biopharma ups ATM cap to $2.128M
RedHill Biopharma Ltd. amends its Form F-3 prospectus supplement to increase the amount of American Depositary Shares available under its At The Market sales agreement by up to $2,128,000.
Rhea-AI Filing Summary
RedHill Biopharma Ltd. amends its Form F-3 prospectus supplement to increase the amount of American Depositary Shares available under its At The Market sales agreement by up to $2,128,000. The supplement states this amount is in addition to $49,690 of ADSs previously sold under the same agreement.
The supplement cites General Instruction I.B.5 of Form F-3 and reports the aggregate market value of Ordinary Shares held by non-affiliates as $6,534,464 based on 59,949,221,000 Ordinary Shares held by non-affiliates (represented by 5,994,922 ADSs and a per-ADS price of $1.09 as of April 30, 2026. The ADSs trade on Nasdaq under the symbol RDHL; the last reported sale price on June 26, 2026 was $0.8786 per ADS.
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Insights
Raises ATM capacity modestly under Form F-3 limit; public-float constraint applies.
The supplement increases the At The Market (ATM) offering capacity by $2,128,000 under the existing Sales Agreement with H.C. Wainwright & Co., adding to $49,690 previously sold. The disclosure cites General Instruction I.B.5 of Form F-3 as the governing resale limitation.
Practical dependencies include the public float cap and prior 12-month sales; the filing notes a $6,534,464 aggregate market value of shares held by non-affiliates used to calculate the available ATM capacity. Additional prospectus supplements will be filed if further sales are made.
Key Figures
ATM offering capacity increase: $2,128,000
Previously sold under Sales Agreement: $49,690
Aggregate market value of non-affiliate shares: $6,534,464
+4 more
7 metrics
ATM offering capacity increase
$2,128,000
Prospectus Supplement dated June 29, 2026
Previously sold under Sales Agreement
$49,690
Aggregate gross proceeds from 54,954 ADSs sold in prior 12 months
Aggregate market value of non-affiliate shares
$6,534,464
Calculated pursuant to General Instruction I.B.5 of Form F-3 as of April 30, 2026 price
Ordinary Shares held by non-affiliates
59,949,221,000 shares
Used to compute non-affiliate market value
ADS equivalence reported
5,994,922 ADSs
Represents non-affiliate Ordinary Shares at 10,000 Ordinary Shares per ADS
Per-ADS price (used)
$1.09
Closing price per ADS on April 30, 2026
Last reported ADS sale price
$0.8786
Last reported sale price on Nasdaq on June 26, 2026
Key Terms
At The Market (ATM) Offering, American Depositary Shares (ADSs), General Instruction I.B.5 of Form F-3, public float
4 terms
At The Market (ATM) Offering financial
"offering, issuance and sale by us of shares of American Depositary Shares ... under the At The Market Offering Agreement"
General Instruction I.B.5 of Form F-3 regulatory
"After giving effect to the $2,178,154 offering limit imposed by General Instruction I.B.5 of Form F-3"
public float financial
"one-third of our outstanding voting and non-voting common equity held by non-affiliates (the “public float”)"
Public float is the total number of a company's shares that are available for trading by the general public. It excludes shares held by company insiders or large stakeholders who are unlikely to sell them easily. This figure helps investors understand how much of the company's stock is actively available, which can influence its liquidity and how easily its price might change.
Offering Details
ATM
Offering
Offering Type
ATM
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What change did RedHill Biopharma (RDHL) make to its ATM program?
They increased the ATM offering capacity by $2,128,000. The prospectus supplement states this amount is incremental to $49,690 previously sold under the Sales Agreement with H.C. Wainwright & Co.
How does General Instruction I.B.5 of Form F-3 affect RDHL's sale capacity?
It limits sales to one-third of the public float while under $75.0 million. The supplement cites this rule and reports a $6,534,464 public-float figure used in the calculation.
What proceeds has RDHL generated under the Sales Agreement to date?
RDHL reports $49,690 in aggregate gross proceeds previously sold under the Sales Agreement. The prospectus supplement states 54,954 ADSs were sold in the 12 months prior to and including the supplement date.
On what exchange and at what recent price do RDHL ADSs trade?
ADSs are listed on Nasdaq under the symbol RDHL. The supplement notes a closing price used for calculations of $1.09 per ADS on April 30, 2026, and a last reported sale price of $0.8786 on June 26, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Filed pursuant to Rule 424(b)(5)
Registration No. 333-281417
PROSPECTUS SUPPLEMENT No. 4
(To Prospectus dated August 19, 2024)
Up to $2,128,000
American Depositary Shares each representing ten thousand (10,000) Ordinary Shares
RedHill Biopharma Ltd.
This prospectus supplement dated June 29, 2026 (this “Prospectus Supplement”), supplements the information in the prospectus, dated
August 19, 2024, forming a part of our registration statement on Form F-3 (Registration No. 333-281417) that we filed with the Securities and Exchange Commission on August 9, 2024, as supplemented by our prospectus supplements dated February 3, 2025,
November 26, 2025, and May 7, 2026 (collectively, the “Prospectus”). This Prospectus Supplement should be read in conjunction with the Prospectus, and is qualified by reference thereto, except to the extent that the information herein amends or
supersedes the information contained in the Prospectus. This Prospectus Supplement is not complete without, and may only be delivered or utilized in connection with, the Prospectus, and any future amendments or supplements thereto. This Prospectus
Supplement supplements or amends only those sections of the Prospectus identified in this Prospectus Supplement; all other sections of the Prospectus remain unchanged.
The Prospectus, as supplemented by this Prospectus Supplement, relates to the offering, issuance and sale by us of shares of American
Depositary Shares (the “ADSs”), each representing ten thousand (10,000) of our ordinary shares (“Ordinary Shares”), par value NIS 0.01 per share, that may be issued and sold from time to time under the At The Market Offering Agreement, that we
entered into with H.C. Wainwright & Co., LLC (“Wainwright”), on February 3, 2025 (the “Sales Agreement”).
We are filing this Prospectus Supplement to supplement and amend the Prospectus to increase the maximum aggregate offering amount of the
ADSs that may be offered, issued and sold under the Sales Agreement from and after the date hereof. After giving effect to the $2,178,154 offering limit imposed by General Instruction I.B.5 of Form F-3 and deducting amounts offered and sold pursuant
to General Instruction I.B.5 of Form F-3 in the 12 calendar months prior to the date of this prospectus supplement, we may offer and sell additional ADSs having an aggregate offering price of up to $2,128,000 from time to time through the sales agent
in accordance with the terms of the Sales Agreement, which amount is in addition to the aggregate of $49,690 of ADSs previously sold pursuant to the Prospectus and in accordance with the Sales Agreement.
As of the date of this Prospectus Supplement, the aggregate market value of our outstanding Ordinary Shares held by non-affiliates
pursuant to General Instruction I.B.5 of Form F-3 is $6,534,464, based on 59,949,221,000 Ordinary Shares outstanding held by non-affiliates (which would be represented by 5,994,922 ADSs), and a per ADS price of $1.09 per ADS, the closing price of the
ADSs on April 30, 2026, as reported on the Nasdaq Capital Market (“Nasdaq”). As of the date hereof, we have sold 54,954 ADSs under the Sales Agreement for aggregate gross proceeds of approximately $49,690 pursuant to General Instruction I.B.5 of Form
F-3 during the 12 calendar months prior to and including the date of this Prospectus Supplement. Pursuant to General Instruction I.B.5 of Form F-3, in no event will we sell securities pursuant to the registration statement of which this Prospectus
Supplement forms a part in a public primary offering with a value exceeding one-third of our outstanding voting and non-voting common equity held by non-affiliates (the “public float”) in any 12 calendar month period so long as our public float
remains below $75.0 million. In the event that we may sell additional amounts under the Sales Agreement, we will file another prospectus supplement prior to making such additional sales.
The ADSs are listed on Nasdaq under the symbol “RDHL.” On June 26, 2026, the last reported sale price of the ADSs on Nasdaq was $0.8786
per ADS.
Investing in our securities involves a high degree of risk. Please read “Risk Factors” beginning on page S-8 of the
prospectus supplement dated February 3, 2025, on page 5 of the prospectus, dated August 19, 2024, and under similar headings in the documents incorporated by reference into such prospectus supplement and prospectus.
None of the United States Securities and Exchange Commission, any state securities commission or any other regulatory
body, has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement or the accompanying base prospectus. Any representation to the contrary is a criminal offense.
H.C. Wainwright & Co.
The date of this Prospectus Supplement is June 29, 2026.
