AEterna Zentaris Subsidiary Atrium Biotechnologies Files Final Prospectus for $75 Million Initial Public Offering
March 29 2005 - 9:07PM
PR Newswire (US)
AEterna Zentaris Subsidiary Atrium Biotechnologies Files Final
Prospectus for $75 Million Initial Public Offering All amounts are
in Canadian dollars QUEBEC CITY, Canada, March 29
/PRNewswire-FirstCall/ -- AEterna Zentaris Inc. (TSX: AEZ; Nasdaq:
AEZS) today announced that its 61.1%-owned subsidiary, Atrium
Biotechnologies Inc. (TSX: ATB.sv), has filed a final prospectus
with the securities regulatory authorities in each of the provinces
of Canada in connection with an initial public offering and
secondary offering of 6,250,000 subordinate voting shares at a
price of $12 per share, for total proceeds of $75 million. The
offering consists of 4,166,667 subordinate voting shares to be
issued from Atrium's treasury, for gross proceeds to Atrium of $50
million, and 2,083,333 subordinate voting shares to be sold by SGF
Soquia Inc., a subsidiary of Societe generale de financement du
Quebec, for gross proceeds to SGF Soquia Inc. of $25 million. The
6,250,000 subordinate voting shares will be sold to a syndicate of
underwriters co-led by RBC Dominion Securities Inc. and National
Bank Financial Inc., and including BMO Nesbitt Burns Inc., CIBC
World Markets Inc., GMP Securities Ltd., HSBC Securities (Canada)
Inc. and Loewen, Ondaatje, McCutcheon Limited. The offering is
expected to close on April 6, 2005, at which time Atrium's
subordinate voting shares will commence trading on the Toronto
Stock Exchange under the symbol "ATB.sv". Atrium and SGF Soquia
Inc., on a pro rata basis, have granted the underwriters an option
to acquire up to 937,500 additional subordinate voting shares,
representing 15% of the number of shares to be sold at the closing
of the offering, to cover over-allotments and for market
stabilization. The over- allotment option may be exercised at the
offering price of $12 per share for a period of 30 days from the
closing of the offering. Should the over-allotment option be
exercised in full, the total gross proceeds of the offering will be
$86.25 million, of which $57.5 million would be received by Atrium
and $28.75 million would be received by SGF Soquia Inc. Following
the completion of this offering and without giving effect to the
exercise of the over-allotment option, Atrium will have 14,000,000
multiple voting shares and 14,692,915 subordinate voting shares
issued and outstanding, for a total of 28,692,915 shares. AEterna
Zentaris will hold 14,000,000 multiple voting shares and 537,996
subordinate voting shares for a total of 14,537,996 shares,
representing 66.8% of the voting rights and 50.7% of the total
equity of Atrium. Atrium's subordinate voting shares have not been
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons absent U.S
registration or an applicable exemption from U.S. registration
requirements. About AEterna Zentaris Inc. AEterna Zentaris Inc. is
an oncology and endocrine therapy focused biopharmaceutical company
with proven expertise in drug discovery, development and
commercialization. The Company's broad 20 product pipeline
leverages five different therapeutic approaches, including LHRH
antagonists and signal transduction inhibitors. The lead LHRH
antagonist compound, cetrorelix, is currently marketed for in vitro
fertilization under the brand name Cetrotide(R). Cetrorelix is also
in late-stage clinical development for endometriosis and benign
prostatic hyperplasia (BPH). The lead signal transduction inhibitor
compound, perifosine, is an orally-active AKT inhibitor that is in
several Phase II trials for multiple cancers. AEterna Zentaris owns
61.1% of Atrium Biotechnologies Inc. (TSX: ATB.sv), a leading
developer, manufacturer and marketer of value-added products for
the cosmetics, pharmaceutical, chemical and nutritional industries.
News releases and additional information about AEterna Zentaris are
available on its Web site http://www.aeternazentaris.com/ .
Forward-Looking Statements This press release contains
forward-looking statements made pursuant to the safe harbor
provisions of the U.S. Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks and
uncertainties, which could cause the Company's actual results to
differ materially from those in the forward-looking statements.
Such risks and uncertainties include, among others, the
availability of funds and resources to pursue R&D projects, the
successful and timely completion of clinical studies, the ability
of the Company to take advantage of business opportunities in the
pharmaceutical industry, uncertainties related to the regulatory
process and general changes in economic conditions. Investors
should consult the Company's quarterly and annual filings with the
Canadian and U.S. securities commissions for additional information
on risks and uncertainties relating to the forward-looking
statements. Investors are cautioned not to rely on these
forward-looking statements. The Company does not undertake to
update these forward- looking statements. DATASOURCE: AETERNA
ZENTARIS INC. (FORMERLY/ANCIENNEMENT - LES LABORATOIRES AETERNA
CONTACT: Media Relations: Paul Burroughs, (418) 652-8525 ext. 406,
; Investor Relations: Ginette Vallieres, (418) 652-8525 ext. 265, ;
To request a free copy of this organization's annual report, please
go to http://www.newswire.ca/ and click on reports@cnw.
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