Antibe Therapeutics settles C$4.26 million private placement of stock

Non-brokered offering sold 7,102,931 common shares at C$0.60 per share

By Devika Patel

Knoxville, Tenn., April 29 - Antibe Therapeutics Inc. said it raised C$334,600 in the third and final tranche of a C$4.26 million non-brokered private placement of stock on Monday. The deal priced for C$3 million on March 21 and was increased to C$5 million on March 28. The offering raised C$3.02 million on March 31 and C$911,760 on April 7.

The company sold 7,102,931common shares at C$0.60 apiece, which is an 18.92% discount to the March 20 closing share price of C$0.74. It sold 5,025,664 shares in the first tranche, 1,519,600 shares in the second and 557,667 shares in the third tranche.

Proceeds will be used for product development and general corporate purposes.

The pharmaceutical company is based in Toronto.

Issuer:	Antibe Therapeutics Inc.
Issue:	Common stock
Amount:	C$4,261,759
Shares:	7,102,931
Price:	C$0.60
Warrants:	No
Agent:	Non-brokered
Pricing date:	March 21
Upsized:	March 28
Settlement date:	March 31 (for C$3,015,399), April 7 (for C$911,760), April 28 (for C$334,600)
Stock symbol:	TSX Venture: ATE
Stock price:	C$0.74 at close March 20
Market capitalization:	C$17.35 million

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