Alexza heralds registered deal; PetroLatina again taps market; 01 Communique gets growth funds

By Stephanie N. Rotondo

Portland, Ore., Aug. 5 - Alexza Pharmaceuticals Inc. said it would raise over $18 million from a registered direct offering on Thursday.

The company is selling units to raise the proceeds, which will be used for general corporate purposes.

Meanwhile, PetroLatina Energy plc is using the PIPE market for the third time in two weeks, as it announced a £3.23 million private placement of equity. The company had previously announced deals on July 23 and July 30.

01 Communique Laboratory Inc. took in C$5.5 million from a private placement of special warrants. The deal included a fully exercised greenshoe and a company spokesperson said the funds would help the company achieve its growth goals.

Among other completed transactions, Pacific Blue Energy Corp. wrapped a private placement of equity, raising $2 million.

And, Sama Resources Inc. priced a previously announced private placement of units. The company is seeking C$2 million from the financing.

Alexza heralds registered offering

Alexza Pharmaceuticals, a Palo Alto, Calif.-based pharmaceutical company, announced an $18.05 million registered direct offering of units.

The company will sell approximately 6.68 million of the units at $2.70 each. The units will hold one common share and one half-share warrant.

Whole warrants are exercisable at $3.30 - a 10% premium over the Aug. 4 closing share price of $3.00 - for five years.

Proceeds will be used "primarily for general corporate purposes, including clinical trial, research and development, general and administrative and manufacturing expenses," the company said in a press release.

Calls seeking further comment were not returned Thursday.

Settlement is expected by Aug. 10.

Alexza's equity (Nasdaq: ALXA) fell 50 cents, or 16.67%, to $2.50. Market capitalization is $132.31 million.

PetroLatina enters market again

PetroLatina is aiming to raise £3.23 million via a private placement of ordinary stock, according to a press release.

The company is issuing approximately 1.3 million shares at 37.57p and another 6.8 million at 40p.

Macquarie Bank Ltd. is the investor.

The prices per share represent a 25.6% and 20.79% discount, respectively, to the closing share price of 50.5p on Aug. 3.

The London-based company has conducted several private placements over the last few weeks. On July 23, it announced a $8.5 million placement of equity at 37.57p per share to investors Tribeca Oil & Gas Inc. and Juan Carlos Rodriguez, a director of PetroLatina. The following week, on July 30, the company entered into another agreement with the same investors for a $11.5 million placement, at 40p per share.

Proceeds from the recent placing will be used for ongoing work and exploration in Colombia, as well as for working capital.

PetroLatina's stock (London: PELE) closed at 51.45p. Market capitalization is £23.78 million.

01 Communique gets growth dollars

01 Communique Laboratory wrapped a private placement of special warrants, taking in C$5.5 million.

The deal originally priced at C$3.5 million with a C$2 million greenshoe on July 23.

A total of approximately 6.12 million warrants were sold in the transaction at C$0.90 each, representing an 8.16% discount to the C$0.98 closing share price on July 23.

The warrants are convertible into common shares.

Brian Stringer, chief financial officer, told Prospect News that the company was very excited about the completion of the financing.

"The over-allotment was taken up and it gives us a very strong balance sheet," he said. He noted that the deal brought in some new institutional investors.

And, "I can't say enough good things about the underwriters [led by Wellington West Capital Markets Inc. and including NCP Northland Capital Partners Inc. and MGI Securities Inc.]," he added.

Stringer said the funds would provide working capital "to support the company's growth."

"It gives us the money we need to increase our chances of success," he said. "Now it's back on [company management] to execute.

"I like to have a little more money than not enough and now we have it for the first time in a long time," he added.

01Communique's shares (ONE) dipped 3 cents, or 2.40%, to C$1.22. Market capitalization is C$62.72 million.

01Comunique Laboratory is a Toronto-based developer of integrated communications software.

Pacific Blue raises $2 million

Flagstaff, Ariz.-based Pacific Blue Energy settled a private placement of equity, raising $2 million.

The company issued common shares at $1.00 per share, selling 2 million shares.

The price per share was a 1.96% discount to the Aug. 4 closing share price of $1.02.

"It is my belief that the funds raised will enable us to continue developing our projects as we continue to enhance shareholder value, and to soon reach our goal of building solar farms in Arizona," stated Joel Franklin, chief executive officer, in a press release.

Pacific Blue's stock (OTCBB: PBEC) closed unchanged at $1.02. Market capitalization is $39.52 million.

Pacific Blue Energy is a photovoltaic solar energy company.

Sama prices deal

Sama Resources priced a previously announced private placement of units, according to a press release.

The deal was originally announced July 2.

Sama is looking to pocket C$2 million via a unit placement. A total of 5 million units will be sold at C$0.40 each and will contain one common share and one half-share warrant.

Whole warrants are exercisable at C$0.55 for one year. The strike price represents a 25% premium to the Aug. 4 closing share price of C$0.44.

Proceeds will be used for exploration work at the Samapleu nickel/copper project and for working capital purposes.

Sama's shares (TSX Venture: SME) declined 3½ cents, or 7.95%, to C$0.405. Market capitalization is C$17.89 million.

Sama Resources is a Vancouver, B.C.-based resource company.

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