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BELLUS Health and Pharmascience announce scheduled conversion of Pharmascience's interest in BHI Limited Partnership
BELLUS Health and Pharmascience announce scheduled conversion of Pharmascience's interest ...
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[{"type":"text","content":"\n\n\n\nBELLUS Health and Pharmascience announce scheduled conversion of Pharmascience's interest in BHI Limited Partnership\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nBELLUS Health and Pharmascience announce scheduled conversion of Pharmascience's interest in BHI Limited Partnership\nCanada NewsWire\nLAVAL, QC, June 2, 2016\n\n\n\n- Issuance of 6,350,638 common shares of BELLUS Health to Pharmascience upon conversion -\n\n- BELLUS Health's fully diluted number of common shares unchanged at 65.9 million -\n\n\n\nLAVAL, QC, June 2, 2016 /CNW/ - BELLUS Health Inc. (TSX: BLU) (\"BELLUS Health\" or the \"Company\"), a drug development company focused on rare diseases, and Pharmascience Inc. (\"Pharmascience\"), a leading manufacturer of generic drugs, today announced the exercise of Pharmascience's right to convert its 10.4% interest (the \"Units\") in BHI Limited Partnership (\"BHI LP\") into 6,350,638 common shares of the Company. Following the transaction, BHI LP will be wholly-owned by BELLUS Health. \n\n\"This conversion is the final step to the completion of our capital structure's simplification that started in 2012\", said Roberto Bellini, President and Chief Executive Officer of BELLUS Health. \"The next milestone in our business plan this year is the KIACTA™ Phase 3 Confirmatory Study top-line results, which are expected before the end of June\".\n\nFollowing the transaction, the Company will have approximately 61.1 million common shares outstanding and will continue to have approximately 65.9 million common shares on a fully diluted basis, taking into account approximately 4.8 million common shares issuable under the Company's stock option plan.\n\nFollowing the transaction, Pharmascience will hold 6,350,638 common shares of the Company, representing 10.4% of the Company's issued and outstanding common shares (9.6% on a fully diluted basis).\n\nPharmascience first acquired the Units in connection with the strategic partnership entered into with BELLUS Health on May 25, 2012. Pharmascience did not convert the Units with ...