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BELLUS Health Closes $20M Common Share Financing
BELLUS Health Closes $20M Common Share Financing Canada NewsWire LAVAL, QC, Dec....
About this update from Bluenergies Ltd.
[{"type":"text","content":"\n\n\n\nBELLUS Health Closes $20M Common Share Financing\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\n\nCanada NewsWire\nLAVAL, QC, Dec. 12, 2017\n\n\n\n- Proceeds to Support Advancing BLU-5937 for Chronic Cough into Clinical Testing -\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nLAVAL, QC, Dec. 12, 2017 /CNW/ - BELLUS Health Inc. (TSX: BLU) (\"BELLUS Health\" or the \"Company\"), a biopharmaceutical development company advancing novel therapeutics for conditions with high unmet medical need, today closed its previously announced equity offering, issuing a total of 52,631,580 common shares for gross proceeds of $20 million (the \"Offering\"). The majority of the Offering was subscribed to by healthcare specialized institutional investors and also included the participation by members of the senior management team and board of directors of the Company.\n\n\"We are extremely encouraged by the broad interest received from the investment community. This, in addition to the participation of members of the Company's leadership team, is a testament to the potential of BLU-5937 as a best-in-class treatment for chronic cough,\" said Roberto Bellini, President and CEO of BELLUS Health. \"These funds will enable the advancement of BLU-5937 to clinical testing, with filing of a Clinical Trial Application planned for Q2 2018, followed by the commencement of a Phase 1 study expected in Q3 2018, subject in each case to applicable regulatory approval.\"\n\nDetails of the Offering\n\nUnder the Offering, led by Bloom Burton Securities Inc., on behalf of a syndicate of agents that included Cormark Securities Inc. and Mackie Research Capital Corporation, subscribers purchased a total of 52,631,580 common shares at a price of $0.38 per share for aggregate gross proceeds of $20 million. The Offering price of $0.38 per share is an 8% discount to the 5-day volume weighted average price before announcement of the financing. \n\nIn Canada, the common shares purchased pursuant to the...