NEW YORK, Nov. 23, 2016 (GLOBE NEWSWIRE) -- Motif Bio plc (Motif) (NASDAQ:MTFB), (NASDAQ:MTFBW), a clinical stage biopharmaceutical company specializing in developing novel antibiotics, announced today the closing of its initial U.S. public offering 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 were sold at a 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 has a per ADS exercise price of $8.03. The ADS warrants are exercisable immediately and have a term of five years. The ADSs and ADS warrants are listed on The NASDAQ Capital Market under the symbols "MTFB" and "MTFBW," respectively. H.C. Wainwright & Co., LLC acted as the sole book-running manager for the offering. Motif also closed its concurrent placement in Europe of approximately 22.9 million ordinary shares with 50% warrant coverage. Each ordinary share and warrant to purchase 0.5 of an ordinary share were sold at a price to the public of 28 pence per ordinary share and warrant combination. Each full ordinary share warrant has a per ordinary share exercise price of 32.2 pence. The ordinary share warrants are exercisable immediately and 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." Zeus Capital Limited, Northland Capital Partners and MC Services acted as the placing agents in the European Placement. The aggregate gross proceeds to the Company, before deducting underwriting discounts and commissions, placing agent commissions and other estimated offering expenses, were approximately $25 million.