Business
Fennec Announces Closing of Public Offering
RESEARCH TRIANGLE PARK, N.C., May 05, 2020 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (Nasdaq: FENC) (TSX: FRX), a specialty pharmaceutical company
About this update from Fennec Pharmaceuticals Inc.
[{"type":"text","content":"RESEARCH TRIANGLE PARK, N.C., May 05, 2020 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (Nasdaq: FENC) (TSX: FRX), a specialty pharmaceutical company focused on the development of PEDMARKTM (a unique formulation of sodium thiosulfate ) for the prevention of platinum-induced ototoxicity from cisplatin in pediatric cancer patients, today announced the closing of its previously announced underwritten public offering of 4,800,000 common shares at a public offering price of $6.25 per share. In addition, Fennec has granted the underwriters a 30-day option to purchase up to an additional 720,000 common shares. The total gross proceeds from the offering (before deducting the underwriting discounts and offering expenses) is $30,000,000, excluding any exercise of the underwriters’ option to purchase additional shares.\n Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering. Wedbush PacGrow acted as the co-manager. The offering was conducted pursuant to a shelf registration statement on Form S-3 (File No. 333-221093) previously filed with the Securities and Exchange Commission (the “SEC”) on October 24, 2017 and declared effective by the SEC on November 3, 2017. A final prospectus supplement and the accompanying prospectus relating to and describing the offering was filed with the SEC. Electronic copies of the preliminary prospectus supplement and the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained by visiting the SEC’s website at www.sec.gov or by contacting Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 6th Floor, New York, NY 10022 or by e-mail at [email protected]. Fennec plans to use the net proceeds from this offering for obtaining regulatory approvals, the commercial launch of PEDMARKTM, if approved, and working capital and general corporate purposes. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities will not be offered or sold, directly or indirectly, in Canada or to any resident of Canada and, in connection with the...