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Medicenna Announces Pricing of $35 Million Overnight Marketed Offering of Common Shares
Medicenna Announces Pricing of $35 Million Overnight Marketed Offering of Common Shares ...
About this update from Medicenna Therapeutics Corp.
[{"type":"text","content":"\n\n\n\nMedicenna Announces Pricing of $35 Million Overnight Marketed Offering of Common Shares\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 and HOUSTON, March 4, 2020\n\n\n\n/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES./\n TORONTO and HOUSTON, March 4, 2020 /CNW/ - Medicenna Therapeutics Corp. (\"Medicenna\" or the \"Company\") (TSX: MDNA), a clinical stage immuno-oncology company, is pleased to announce today that it has priced its previously announced marketed offering (the \"Offering\") of common shares of the Company (\"Offered Shares\").  The Company intends to issue 11,290,323 Offered Shares at a price of $3.10 per Offered Share for gross proceeds of approximately $35,000,000. In respect of the foregoing, the Company will file an amended and restated preliminary short form prospectus (the \"Amended and Restated Preliminary Prospectus\") with securities regulatory authorities. \nThe Offering is undertaken on a best efforts basis in the provinces of British Columbia, Alberta and Ontario through a syndicate of agents led by Bloom Burton Securities Inc. (the \"Lead Agent\") on behalf of a syndicate including Mackie Research Capital Corp. and Haywood Securities Inc. (together with the Lead Agent, the \"Agents\").\nIn connection with the Offering, the Agents will be paid a cash commission equal to 7.0% of the aggregate gross proceeds of the Offering and will be issued broker warrants exercisable to acquire such number of common shares of the Company as is equal to 7.0% of the aggregate number of Offered Shares sold pursuant to the Offering. The Company will also grant to the Agents a 30-day over-allotment option to sell up to an additional 15% of the number of Offered Shares sold as part of the Offering.  \nThe net proceeds of the Offering will be used to fund pre-clinical development of the Company's lead IL-2 agonist drug candidate MDNA19, manufacturing and clinical development of MDNA19 as well as for general corporate purposes and worki...