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HLS Therapeutics Announces Closing of $50 Million Bought Deal Offering
HLS Therapeutics Announces Closing of $50 Million Bought Deal Offering Canada News...
About this update from Hls Therapeutics, Inc.
[{"type":"text","content":"\n\n\n\nHLS Therapeutics Announces Closing of $50 Million Bought Deal Offering\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\nTORONTO, June 5, 2019\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n TORONTO, June 5, 2019 /CNW/ - HLS Therapeutics Inc. (\"HLS\" or the \"Company\") (TSX:HLS) is pleased to announce that it has closed its bought deal offering announced on May 14, 2019, including the exercise in full of the underwriters' over-allotment option. A total of 3,126,563 common shares of HLS (\"Common Shares\") were sold at a price of $16.00 per Common Share for aggregate gross proceeds of approximately $50 million (the \"Offering\").\nThe net proceeds of the Offering are expected to be used primarily for business development purposes, including the acquisition of companies and/or the acquisition or in-licensing of, or similar arrangements with respect to, products, in each case that will further diversify the Company's portfolio of branded pharmaceutical products. The Company expects that any proceeds that are not used for such purposes will be used to support the launch of its growing pipeline of products and for general corporate purposes and working capital.\nThe Common Shares were sold on a bought deal basis pursuant to an underwriting agreement between the Company and a syndicate of underwriters co-led by GMP Securities L.P. and Bloom Burton Securities Inc. and including Clarus Securities Inc. and PI Financial Corp. \nThe Common Shares issued and sold in the Offering were qualified by way of a short form prospectus dated June 3, 2019 (the \"Prospectus\") filed by the Company in each of the provinces of Canada, except Quebec, in the United States by way of private placement pursuant to the exemption from registration provided for under Rule 144A of the United States Securities Act of 1933, as amended, and in certain other jurisdictions outside of Canada and the United States. The...