NEW YORK, Nov. 18, 2016 (GLOBE NEWSWIRE) -- Motif Bio plc (Motif)(NASDAQ:MTFB), a clinical stage biopharmaceutical company specializing in developing novel antibiotics, today announced the pricing of its initial public offering in the United States of approximately 2.44 million American Depositary Shares (ADSs) with 50% warrant coverage. Each ADS, representing 20 ordinary shares of Motif, and warrant to purchase 0.5 ADSs are being offered at an offering price to the public of $6.98 per ADS and warrant combination. Motif has granted the underwriters a 30-day option to purchase up to an additional 292,618 ADSs and/or 146,309 warrants to cover over-allotments, if any, in the U.S. offering. Each full ADS warrant will have a per ADS exercise price of $8.03. The ADS warrants are exercisable immediately and have a term of five years. The ADSs and warrants are scheduled to begin trading on The NASDAQ Capital Market on November 18, 2016 under the symbols "MTFB" and "MTFBW," respectively. H.C. Wainwright & Co. is acting as the sole book-running manager for the U.S. offering. Motif is also conducting a concurrent placement in Europe of 22.9 million ordinary shares with 50% warrant coverage. Each ordinary share and warrant to purchase 0.5 of an ordinary share are being offered at an offering price of 28 pence per ordinary share and warrant combination. Each full ordinary share warrant will have a per ordinary share exercise price of 32.2 pence. The ordinary share warrants are exercisable immediately and will have a term of five years. Motif's ordinary shares trade on the AIM market of the London Stock Exchange under the ticker symbol "MTFB." The Company's placing agents have received signed placing letters committing to purchase the ordinary shares and warrants. Zeus Capital Limited, Northland Capital Partners and MC Services are acting as the placing agents in the European placement.