By Abigail W. Adams
Portland, Me., Feb. 22 – Trillium Therapeutics Inc. priced $9.76 million, or 12.2 million units, of series II first convertible preferred share units at $0.80 a unit prior to the market open on Friday, according to a company news release.
The convertible preferred share units priced concurrently with $5.24 million, or 6.55 million units, of common share units, which also priced at $0.80 a unit.
Cowen and Co., LLC is the bookrunner for the off-the-shelf offering in the United States and Canada.
The convertible first preferred share units will consist of one series II non-voting convertible first preferred share and one series II non-voting convertible first preferred share purchase warrant.
The strike price on the convertible preferred share purchase warrant is $0.96.
The convertible preferred share units are being offered to investors who would beneficially own more than 4.99% of the company’s common shares through participation in the common share unit offering.
The common share units will consist of one common share and one common share purchase warrant with the strike price on the common share purchase warrant $0.96.
Proceeds will be used for the development of its cancer immunotherapeutic program SIRPáFc, for working capital and for general corporate purposes.
Trillium Therapeutics is a Toronto-based immuno-oncology company focused on the development of cancer treatments.
| Issuer: | Trillium Therapeutics Inc.
|
| Securities: | Series II convertible preferred share units consisting of one convertible preferred share and one convertible preferred share purchase warrant
|
| Amount: | $9.76 million
|
| Maturity: | Feb. 27, 2024
|
| Bookrunners: | Cowen and Co., LLC
|
| Coupon: | 0%
|
| Price: | $0.80 per unit
|
| Warrant strike price: | $0.96
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 27
|
| Concurrent offering: | $5.24 million, or 6.55 million common share units consisting of one common share and one common share purchase warrant
|
| Stock symbol: | Nasdaq: TRIL
|
| Stock price: | $1.28 at market close Feb. 21
|
| Market capitalization: | $9.83 million
|
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