Brokered offering slated to fund product development, working capital
By Devika Patel
Knoxville, Tenn., June 26 – Medicure Inc. said it completed a C$4.03 million private placement of stock. The deal priced for C$3.5 million with a 15% greenshoe on June 9.
The company sold 1,829,545 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. Of the shares, 238,636 were part of the fully exercised greenshoe.
The deal was 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 and for general corporate and working capital purposes.
Medicure is a biopharmaceutical company based in Winnipeg, Man.
| Issuer: | Medicure Inc.
|
| Issue: | Common stock
|
| Amount: | C$4,024,999, including C$524,999 greenshoe of 238,636 shares
|
| Shares: | 1,829,545
|
| Price: | C$2.20
|
| Warrants: | No
|
| Underwriters: | PI Financial Corp. (lead), Bloom Burton & Co.
|
| Pricing date: | June 10
|
| Settlement date: | June 26
|
| Stock symbol: | TSX Venture: MPH
|
| Stock price: | C$2.35 at close June 9
|
| Market capitalization: | C$30.56 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
