By Ronda Fears
Memphis, April 28 - ConjuChem, Inc. raised C$15.75 million from a follow-on offering of 7.5 million shares of common stock priced at C$2.10 each, discounted from Thursday's closing level of C$2.34, in a bought deal jointly led by Sprott Securities Inc. and Orion Securities Inc.
Montreal-based ConjuChem said proceeds would be used for the advancement of its PC-DACTM: Exendin-4 and DACTM: GRF compounds and for general corporate purposes.
The company develops next-generation medicines from therapeutic peptides, creating long-acting compounds based on bioconjugation platform technologies. When applied to peptides, its systemic DACTM Technologies enable the creation of new drugs with significantly enhanced therapeutic properties as compared to the original peptide.
The company is developing compounds to treat various disorders including diabetes, human growth deficiencies and HIV/AIDS.
| Issuer: | ConjuChem, Inc.
|
| Issue: | Follow-on stock offering
|
| Gross proceeds: | C$15.75 million
|
| Shares: | 7.5 million shares
|
| Price: | C$2.10 per share
|
| Lead managers: | Sprott Securities Inc. and Orion Securities Inc.
|
| Pricing date: | April 27
|
| Settlement date: | May 19
|
| Stock symbol: | Toronto: CJC
|
| Stock price: | C$2.34 at close April 27
|
|
|
© 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.
