Valeo Pharma Inc. (CSE:VPH) has announced the closing of its bought-deal public offering under which the company issued 11,500,000 units at a price of $1.00 each for gross proceeds of $11.5 million, including the full exercise of the over-allotment option.
Each unit in the offering consists of one class A share in the capital of the company and one share purchase warrant. Each warrant entitles the holder to purchase one share at an exercise price of $1.25 for a period of 36 months following the closing of the offering.
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The net proceeds from the offering will be used by the company for the purposes described in the final short form prospectus dated June 22, 2021.
The offering was led by Research Capital Corporation, as the lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, including Paradigm Capital Inc. and Desjardins Capital Markets.
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, US persons absent registration or an applicable exemption from US registration requirements and applicable US state securities laws.
Valeo is a pharmaceutical company dedicated to the commercialization of innovative prescription products with a focus on Respirology, Neurodegenerative Diseases, Oncology and other specialty products.
Headquartered in Kirkland, Quebec, Valeo has the full capability and complete infrastructure to register and properly manage its growing product portfolio through all stages of commercialization.
Contact the author at jon.hopkins@proactiveinvestors.com