QUÉBEC CITY, Nov. 20, 2013
/PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ)
(the "Company") today announced the pricing of its previously
announced public offering of 13.1 million units (the "Offering"),
with each unit consisting of one common share and one whole warrant
to purchase one common share, at a purchase price of US$1.15 per unit. Each warrant will be
exercisable for a period of five years following the issuance
thereof at an exercise price of US$1.60 per share. Net proceeds from the Offering
are expected to be approximately US$13.7
million, after deducting underwriting commissions and other
expenses related to the Offering.
Canaccord Genuity Inc. is acting as the sole book-running
manager for the Offering. Maxim Group LLC acted as co-manager for
the Offering.
The Offering is expected to close on or about November 25, 2013, subject to customary closing
conditions including, but not limited to, the receipt of all
necessary regulatory approvals, including the approvals of the
Toronto Stock Exchange and the NASDAQ Capital Market.
The Company intends to use the net proceeds from the Offering to
continue to fund its ongoing drug development activities, primarily
for the advancement of its zoptarelin doxorubicin (AEZS-108)
program, secondly for its macimorelin acetate (AEZS-130) program,
including the preparation of its commercial launch, as well as for
the potential addition of commercialized products to the Company's
pipeline, future negative cash flow, general corporate purposes and
working capital.
The Offering is being conducted pursuant to the Company's
effective shelf registration statement on Form F-10 filed with the
U.S. Securities and Exchange Commission (the "SEC"), its
corresponding Canadian base shelf prospectus and an exemption from
the Autorité des marchés financiers permitting the Company
to offer common shares and warrants in the United States. A final prospectus
supplement relating to the Offering, along with the accompanying
base shelf prospectus, will be filed with the SEC and with the
securities regulatory authority in each of the provinces of
Canada. Electronic copies of the
preliminary and final prospectus supplements and the accompanying
base shelf prospectus can be obtained on the SEC's website at
www.sec.gov or on the SEDAR website maintained by the Canadian
Securities Administrators at www.sedar.com. Copies of the final
prospectus supplement and the accompanying base shelf prospectus
relating to the Offering may be obtained, when available, upon
request by contacting Canaccord Genuity Inc., Attention: Syndicate
Department, 99 High Street, 12th Floor, Boston, Massachusetts 02110, or by telephone
at (617) 371-3900.
This press release does not and shall not constitute an offer to
sell or the solicitation of an offer to buy any of the Company's
securities, nor shall there be any sale of the Company's securities
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
About Aeterna Zentaris Inc.
Aeterna Zentaris is a specialty biopharmaceutical company
engaged in developing novel treatments in oncology and
endocrinology. The Company's pipeline encompasses compounds from
drug discovery to regulatory approval. For more information, visit
www.aezsinc.com.
Forward-Looking Statements
This press release contains forward-looking statements made
pursuant to the safe harbour provisions of the U.S. Securities
Litigation Reform Act of 1995. Forward-looking statements involve
known and unknown risks and uncertainties that 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 risk that safety and efficacy data from any of our
Phase 3 trials may not coincide with the data analyses from
previously reported Phase 1 and/or Phase 2 clinical trials, 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 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. We disclaim any obligation
to update any such factors or to publicly announce the result of
any revisions to any of the forward-looking statements contained
herein to reflect future results, events or developments, unless
required to do so by a governmental authority or by applicable
law.
SOURCE Aeterna Zentaris Inc.