Business
Zomedica Corp. Announces Full Exercise of Over-Allotment Option by Underwriter
Zomedica Corp. Announces Full Exercise of Over-Allotment Option by Underwriter.
About this update from Zomedica Corp.
[{"type":"text","content":"\n ANN ARBOR, Mich., Feb. 16, 2021 (GLOBE NEWSWIRE) -- Zomedica Corp. (NYSE American: ZOM), (“Zomedica” or the “Company”), a veterinary health company creating point-of-care diagnostics products for dogs and cats, today announced that the underwriter of its previously announced public offering of has exercised in full its over-allotment option to purchase an additional 13,697,368 common shares of Zomedica at a price to the public of $1.90 per share, less underwriting discounts and commissions. After giving effect to the full exercise of the over-allotment option, the gross proceeds are approximately $200.0 million, before deducting underwriting discounts and commissions and other offering expenses payable by Zomedica. H.C. Wainwright & Co. acted as the sole book-running manager for the offering. Zomedica intends to use the net proceeds from the offering for the continued development of its diagnostic platforms, including making milestone payments, if any, as they come due, under its existing license and collaboration agreements, for strategic acquisitions if and when they become available, and other general corporate and working capital purposes and may use a portion of the net proceeds to repurchase some or all of its outstanding Series 1 Preferred Shares, although no agreement has been reached with respect to the terms or conditions of any such repurchase. A shelf registration statement on Form S-3 (Registration No. 333-228926) relating to the securities being offered was filed with the Securities and Exchange Commission (“SEC”) and was declared effective on January 30, 2019. The offering was made only by means of a prospectus supplement and accompanying base prospectus. A final prospectus supplement and accompanying base prospectus relating to the offering were filed with the SEC and are available for free on the SEC's website located at http://www.sec.gov. and may also be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (646) 975-6996, or by email to [email protected]. The common shares are not being offered to residents of Canada or persons in Canada. The common shares were sold on the basis of prospectus exemptions under applicable Canadian securities laws. This press release shall not constitute an offer to sel...