BELLUS Health Announces Exercise of Over-Allotment Option in Connection With Underwritten Public Offering of Common Shares
September 17 2019 - 8:57AM
Business Wire
BELLUS Health Inc. (“BELLUS Health” or the “Company”) (Nasdaq:
BLU; TSX: BLU), a clinical-stage biopharmaceutical company
developing novel therapeutics for the treatment of chronic cough
and other hypersensitization-related disorders, today announced
that the underwriters of its previously announced underwritten
public offering (the “Offering”) of common shares have partially
exercised their option to purchase additional common shares,
resulting in the issuance of an additional 1,320,296 common shares
of the Company at a price of US$7.10 per common share for
additional gross proceeds to the Company of approximately US$9.37
million. As a result of the exercise of this option, the Company
has raised total gross proceeds of approximately US$79.37 million
from the Offering, before deducting the underwriting commissions
and any expenses related to the Offering.
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 (as defined
below).
Jefferies, Cowen and Guggenheim Securities acted as joint
book-running managers, Baird acted as lead manager, and Bloom
Burton Securities acted as co-manager for the Offering.
The Offering was 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, which went effective with the U.S. Securities and Exchange
Commission (the “SEC”) on September 5, 2019 (the “Registration
Statement”), containing the Supplement and Base Prospectus filed
with the SEC in accordance with the Multijurisdictional Disclosure
System established between Canada and the United States.
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, on EDGAR at www.sec.gov and on the Company’s website
at 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, by
telephone at 212-518-9658 or by email at
GSEquityProspectusDelivery@guggenheimpartners.com.
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, the anticipated use of proceeds from the Offering.
However, they should not be regarded as a representation that any
of the plans will be achieved. 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/20190917005710/en/
François Desjardins Vice President, Finance 450-680-4525
fdesjardins@bellushealth.com SOURCE: BELLUS Health Inc.
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