Offering funds acquisition of four products; receipts priced at C$1.90
By Devika Patel
Knoxville, Tenn., Feb. 19 – Merus Labs International Inc. said it will conduct a C$27.08 million private placement of subscription receipts.
The company will sell 14.25 million subscription receipts at C$1.90 apiece, a 4.04% discount to the Feb. 18 closing share price of C$1.98.
Each subscription receipt will convert into one special warrant. Each special warrant will convert into one common share.
The deal will be conducted on a bought-deal basis by a syndicate of underwriters co-led by Canaccord Genuity Corp. and Clarus Securities Inc.
Settlement is expected March 1.
Proceeds will be used for a planned acquisition of four pharmaceutical products.
The specialty pharmaceutical company is based in Toronto.
| Issuer: | Merus Labs International Inc.
|
| Issue: | Subscription receipts
|
| Amount: | C$27,075,000
|
| Receipts: | 14.25 million
|
| Price: | C$1.90
|
| Warrants: | No
|
| Underwriters: | Canaccord Genuity Corp. and Clarus Securities Inc. (co-leads)
|
| Pricing date: | Feb. 19
|
| Settlement date: | March 1
|
| Stock symbol: | Toronto: MSL
|
| Stock price: | C$1.98 at close Feb. 18
|
| Market capitalization: | C$199.04 million
|
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