Medicure underwriters exercise greenshoe, upping deal to C$12 million

By Angela McDaniels

Seattle, Jan. 4 - Medicure Inc. said the underwriters of its bought-deal offering of common stock have fully exercised their 1.25 million share over-allotment option, raising the size of the deal to 7.75 million shares and C$12.01 million.

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

The syndicate of underwriters was led by Blackmont Capital Inc. and included National Bank Financial Inc., according to a company news release.

The company originally priced 6.5 million common shares at C$1.55 per share.

Medicure is pharmaceutical company based in Winnipeg, Manitoba, that develops therapeutics for unmet needs in the field of cardiovascular medicine.

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