Business
Fennec Announces Pricing of Public Offering
RESEARCH TRIANGLE PARK, N.C., April 30, 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., April 30, 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 pricing of its 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. Fennec anticipates the total gross proceeds from the offering (before deducting the underwriting discounts and offering expenses) will be $30 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on May 4, 2020, subject to customary closing conditions.\n Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering. Wedbush PacGrow is acting as the co-manager. 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. The common shares are being offered by the Company pursuant to a registration statement previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”). The offering will be made only by means of a prospectus. A final prospectus supplement and an accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus, when filed with the SEC, may also be obtained from Cantor Fitzgerald & Co., 499 Park Avenue, 6th Floor, New York, NY 10022, Attn: Capital Markets Department, by calling or by email at [email protected]. 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 indir...