Our firm represented Raymond James & Associates as the exclusive placement agent in the $12.8 million registered direct offering of shares of Sol-Gel Technologies Ltd. and concurrent private placement of warrants to an institutional investor. Concurrently with the signing of the Purchase Agreement, Sol-Gel also entered into a subscription agreement with M. Arkin Dermatology Ltd., Sol-Gel’s controlling shareholder, pursuant to which M. Arkin Dermatology agreed to invest an additional $10 million in shares and warrants of the company, subject to receipt of shareholder approval.
Sol-Gel is a dermatology company focused on identifying, developing and commercializing or partnering topical drug products for the treatment of skin diseases.
Raymond James & Associates were represented by partners Chaim Friedland, Ari Fried and Dr. Assaf Prussak, together with associates May Dahan Estrin, Lilach Shamir and Joshua Kersner.
