By Devika Patel
Knoxville, Tenn., April 1 - Bellus Health Inc. announced it will raise up to C$20.5 million in a private placement of five-year secured convertible notes.
Vitus Investments III Private Ltd. will buy C$10 million of notes and Victoria Square Ventures Inc. has committed to invest C$10.5 million.
The 15% notes are convertible at C$0.20 per share.
Based in Laval, Quebec, Bellus develops and markets health products.
| Issuer: | Bellus Health Inc.
|
| Issue: | Secured convertible notes
|
| Amount: | C$20.5 million
|
| Maturity: | Five years
|
| Coupon: | 15%
|
| Price: | Par
|
| Yield: | 15%
|
| Conversion price: | C$0.20
|
| Warrants: | No
|
| Investors: | Vitus Investments III Private Ltd. (for C$10 million) and Victoria Square Ventures Inc. (for C$10.5 million)
|
| Pricing date: | March 31
|
| Stock symbol: | Toronto: BLU
|
| Stock price: | C$0.28 at close April 1
|
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