Theratechnologies Announces Closing of US$46 Million Bought-Deal Public Offering, Including Full Exercise of the Over-Allotme...
January 19 2021 - 9:40AM
Theratechnologies Inc. (“
Theratechnologies” or the
“
Company”) (TSX: TH) (NASDAQ: THTX), a
biopharmaceutical company focused on the development and
commercialization of innovative therapies, is pleased to announce
the closing of its previously-announced bought-deal public offering
(the “
Offering”) pursuant to which the Company
issued 16,727,900 units of the Company (the
“
Units”) at a price of US$2.75 per Unit
(equivalent to approximately C$3.51 per Unit) (the
“
Offering Price”) for aggregate gross proceeds to
the Company of US$46,001,725 (equivalent to approximately
C$58,714,929), including the full exercise of the over-allotment
option to purchase an additional 2,181,900 Units at the Offering
Price.
The Offering was led by Mackie Research Capital
Corporation as the lead underwriter and sole bookrunner, on behalf
of a syndicate of underwriters, including Canaccord Genuity Corp.
and National Bank Financial Inc. (collectively, the
“Underwriters”).
Each Unit is comprised of one common share of
the Company (a “Common Share”) and one-half of one
Common Share purchase warrant of the Company (each whole warrant, a
“Warrant”). Each Warrant entitles the holder
thereof to purchase one Common Share at an exercise price of
US$3.18 (equivalent to approximately C$4.06) at any time until
January 19, 2024.
The net proceeds from the Offering will be used
primarily to fund research and development activities,
commercialisation initiatives, general and administrative expenses,
working capital needs and other general corporate purposes.
This press release is not an offer to sell or
the solicitation of an offer to buy the securities in the United
States or in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to qualification or registration under
the securities laws of such jurisdiction. The securities being
offered have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and such
securities may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons absent
registration or an applicable exemption from U.S. registration
requirements and applicable U.S. state securities laws.
About Theratechnologies
Theratechnologies (TSX: TH) (NASDAQ: THTX) is a
biopharmaceutical company focused on the development and
commercialization of innovative therapies addressing unmet medical
needs. Further information about Theratechnologies is available on
the Company's website at www.theratech.com, on SEDAR
at www.sedar.com and on EDGAR at www.sec.gov.
Forward-Looking Information
This press release contains forward-looking
statements and forward-looking information, or, collectively,
forward-looking statements, within the meaning of applicable
securities laws, that are based on our management’s beliefs and
assumptions and on information currently available to our
management. You can identify forward-looking statements by terms
such as "may", "will", "should", "could", “would”, "outlook",
"believe", "plan", "envisage", "anticipate", "expect" and
"estimate", or the negatives of these terms, or variations of them.
The forward-looking statements contained in this press release
include, but are not limited to, statements regarding the use of
net proceeds from the Offering.
Forward-looking statements are based upon a
number of assumptions and include, but are not limited to, the
following: the proceeds from the Offering will be allocated for the
activities set forth herein and we will have enough funds to carry
out our business plan.
Forward-looking statements are subject to a
variety of risks and uncertainties, many of which are beyond our
control that could cause our actual results to differ materially
from those that are disclosed in or implied by the forward-looking
statements contained in this press release. These risks and
uncertainties include, among others, a resurgence in the Covid-19
pandemic adversely affecting our activities and those of our
suppliers and third-party service providers and the discovery of
unwanted adverse side effects from the long-term use of our
products leading to a withdrawal or recall of our products.
We refer potential investors to the "Risk
Factors" section of our annual information form dated February 24,
2020 available on SEDAR at www.sedar.com and on EDGAR at
www.sec.gov as an exhibit to our report on Form 40-F dated February
25, 2020 under Theratechnologies’ public filings for additional
risks regarding the conduct of our business and Theratechnologies.
The reader is cautioned to consider these and other risks and
uncertainties carefully and not to put undue reliance on
forward-looking statements. Forward-looking statements reflect
current expectations regarding future events and speak only as of
the date of this press release and represent our expectations as of
that date.
We undertake no obligation to update or revise
the information contained in this press release, whether as a
result of new information, future events or circumstances or
otherwise, except as may be required by applicable law.
For Media Inquiries:
Denis BoucherVice President, Communications and
Corporate Affairscommunications@theratech.com514-336-7800
For Investor Inquiries:
Leah GibsonSenior Director, Investor
Relationslgibson@theratech.com617-356-1009
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