By Devika Patel
Knoxville, Tenn., March 8 - YM Biosciences Inc. said it increased a registered direct offering of units to $17.5 million from about $15 million. The deal priced Friday.
The company is selling units of one common share and a half-share warrant at $1.20 apiece. The whole warrants are exercisable at $1.60 for five years.
Roth Capital Partners, LLC is the lead agent. Bloom Burton & Co. Inc., Griffin Securities, Inc. and Haywood Securities Inc. are co-placement agents.
Settlement is expected Wednesday.
Proceeds will be used for drug-development activities and general corporate purposes.
Based in Mississauga, Ont., YM develops treatments for cancer.
| Issuer: | YM Biosciences Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | $17.5 million
|
| Price: | $1.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.60
|
| Agents: | Roth Capital Partners, LLC (lead), Bloom Burton & Co. Inc., Griffin Securities, Inc. and Haywood Securities Inc. (co-placement agents)
|
| Pricing date: | March 5
|
| Upsized: | March 8
|
| Settlement date: | March 10
|
| Stock symbol: | NYSE Amex: YMI
|
| Stock price: | $1.39 at close March 4
|
| Market capitalization: | $76.1 million
|
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