BELLUS Health Announces Pricing of US$70 Million Public Offering in Canada and the United States
September 05 2019 - 7:00AM
Business Wire
- Common
Shares to Begin Trading on Nasdaq -
In connection with its previously announced public offering of
common shares in Canada and the United States (the “Offering”),
BELLUS Health Inc. (“BELLUS Health” or the “Company”) (TSX: BLU)
today announced that it has entered into an underwriting agreement
with a syndicate of underwriters comprising Jefferies, Cowen and
Guggenheim Securities, as joint book-running managers, Baird, as
lead manager, and Bloom Burton Securities, as co-manager
(collectively, the “Underwriters”). The Underwriters have agreed to
purchase 9,859,155 common shares at a price of US$7.10 per common
share (C$9.40 per common share) for aggregate gross proceeds to the
Company of US$70 million. The Offering was upsized from US$60
million to US$70 million. Closing of the Offering is expected to
occur on September 9, 2019, subject to the satisfaction of
customary closing conditions. In addition, the Underwriters have
been granted a 30-day over-allotment option following the date
hereof to purchase up to an additional 1,478,873 common shares from
the Company.
The Offering is being made in Canada pursuant to a prospectus
supplement (the “Supplement”) to the Company’s short form base
shelf prospectus dated July 26, 2019 (the “Base Prospectus”) and in
the United States pursuant to a registration statement on Form
F-10, as it may be amended from time to time, containing the
Supplement and Base Prospectus filed with the U.S. Securities and
Exchange Commission (the “SEC”) in accordance with the
Multijurisdictional Disclosure System established between Canada
and the United States.
The Company intends to use the net proceeds of the Offering
primarily to fund research and development activities, general and
administrative expenses, working capital needs and other general
corporate purposes, as set out in the Supplement.
The Company’s common shares are expected to begin trading on the
date hereof on the Nasdaq Global Market (Nasdaq) under the ticker
“BLU”. The Company’s common shares are listed on the Toronto Stock
Exchange (the “TSX”) under the symbol “BLU”.
The Supplement and the accompanying Base Prospectus contain
important detailed information about the Offering. The Supplement
and the accompanying Base Prospectus can be found on SEDAR at
www.sedar.com and on EDGAR at www.sec.gov and on the Company’s
website www.bellushealth.com. Copies of the Supplement and
accompanying Base Prospectus may also be obtained from the Company,
by telephone at 450-680-4500, or by email at info@bellushealth.com
or you may request them from: Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, by telephone at 877-821-7388 or by email at
prospectus_department@jefferies.com; Cowen and Company, LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, Attention: Prospectus Department, by telephone at (631)
592-5973 or by email at PostSaleManualRequests@broadridge.com; or
Guggenheim Securities, LLC, Attention: Equity Syndicate Department,
330 Madison, 8th Floor, New York, NY 10017, or by telephone at
(212) 518-9658, or by email at
GSEquityProspectusDelivery@guggenheimpartners.com. Prospective
investors should read the Supplement and accompanying Base
Prospectus and the other documents the Company has filed before
making an investment decision.
No regulatory authority has either approved or disapproved the
contents of this news release. This news release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any province,
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under
the securities laws of any such province, state or
jurisdiction.
About BELLUS Health
BELLUS Health is a clinical-stage biopharmaceutical company
developing novel therapeutics for the treatment of chronic cough
and other hypersensitization-related disorders. The Company’s
product candidate, BLU-5937, is being developed for the treatment
of chronic cough and chronic pruritus.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release may constitute
“forward-looking statements” within the meaning of applicable
securities laws. Such statements, based as they are on the current
expectations of management, inherently involve numerous important
risks, uncertainties and assumptions, known and unknown. In this
news release, such forward-looking statements include, but are not
limited to, statements regarding the completion of the Offering,
the expected listing and trading of BELLUS Health’s common shares
on the Nasdaq and the anticipated use of proceeds from the
Offering. The completion of the Offering and the listing of BELLUS
Health’s common shares on the Nasdaq are subject to numerous
factors, many of which are beyond BELLUS Heath’s control, including
but not limited to, market conditions, the failure of the parties
to satisfy certain closing conditions, the failure of BELLUS Health
to satisfy certain listing requirements and other important factors
disclosed previously and from time to time in BELLUS Health’s
filings with the securities regulatory authorities in Canada and
the SEC. Actual future events may differ from the anticipated
events expressed in such forward-looking statements. BELLUS Health
believes that expectations represented by forward-looking
statements are reasonable, yet there can be no assurance that such
expectations will prove to be correct. The reader should not place
undue reliance, if any, on any forward-looking statements included
in this news release. These forward-looking statements speak only
as of the date made, and BELLUS Health is under no obligation and
disavows any intention to update publicly or revise such statements
as a result of any new information, future event, circumstances or
otherwise, unless required by applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20190905005317/en/
FOR MORE INFORMATION, PLEASE CONTACT: François Desjardins
Vice-President, Finance 450-680-4525
fdesjardins@bellushealth.com
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