Brokered offering slated to fund product development, working capital
By Devika Patel
Knoxville, Tenn., June 10 – Medicure Inc. said it has arranged a C$3.5 million private placement of stock with a 15% greenshoe.
The company will sell 1,590,909 common shares at C$2.20 each. The price per share is a 6.38% discount to C$2.35, the June 9 closing share price.
Settlement is expected July 8.
The deal will be conducted on a bought-deal basis by a syndicate of underwriters led by PI Financial Corp. and including Bloom Burton & Co.
Proceeds will be used for product development, general corporate and working capital purposes.
Medicure is a biopharmaceutical company based in Winnipeg, Man.
| Issuer: | Medicure Inc.
|
| Issue: | Common stock
|
| Amount: | C$3.5 million
|
| Greenshoe: | 15%
|
| Shares: | 1,590,909
|
| Price: | C$2.20
|
| Warrants: | No
|
| Underwriters: | PI Financial Corp. (lead), Bloom Burton & Co.
|
| Pricing date: | June 10
|
| Settlement date: | July 8
|
| Stock symbol: | TSX Venture: MPH
|
| Stock price: | C$2.35 at close June 9
|
| Market capitalization: | C$29.43 million
|
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