Published on 12/13/2005 in the Prospect News Biotech Daily and Prospect News PIPE Daily.
New Issue: LAB International settles C$12.31 million share sale
By Sheri Kasprzak
New York, Dec. 13 - LAB International Inc. said it completed a private placement for $12,316,890.
The company sold 13,996,466 shares at C$0.88 each to Great Point Partners, LLC and Atlas Venture Fund VI, LP.
Oppenheimer & Co. Inc. was financial advisor for the non-brokered offering.
Proceeds will be used for working capital.
LAB, based in Laval, Quebec, is a biopharmaceutical company focused on developing inhaler-delivered drugs to treat cancer pain.
| Issuer: | LAB International Inc.
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| Issue: | Stock
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| Amount: | C$12,316,890
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| Shares: | 13,996,466
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| Price: | C$0.88
|
| Warrants: | No
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| Placement agent: | Non-brokered
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| Investors: | Great Point Partners, LLC, Atlas Venture Fund VI, LP
|
| Settlement date: | Dec. 13
|
| Stock price: | C$0.94 at close Dec. 13
|
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