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TORONTO, June 8, 2026 /CNW/ - Apotex Health Corp. ("Apotex" or the "Company") today announced the upsize of its previously announced initial public offering (the "Offering") of common shares of the Company (the "Common Shares"). The Company now expects the Offering to consist of between 54,166,670 and 65,000,005 Common Shares at a price per Common Share between $20.00 and $24.00 (the "OfferingPrice"), for gross proceeds of approximately $1.3 billion.
The Offering consists of a treasury offering by Apotex of between 35,416,666 and 42,500,000 Common Shares at the Offering Price, for gross proceeds of approximately $850 million to Apotex, and a secondary offering by certain shareholders of the Company (the "Selling Shareholders") of between 18,750,004 and 22,500,005 Common Shares at the Offering Price, for gross proceeds of approximately $450 million to the Selling Shareholders. The Selling Shareholders are expected to grant an over-allotment option to the underwriters to purchase up to an additional 8,125,000 to 9,750,000 Common Shares at the Offering Price, exercisable at any time, in whole or in part, until 30 days after the closing date of the Offering, to cover over-allotments, if any, and for market stabilization purposes.
Assuming an Offering size of approximately $1.3 billion and an Offering Price of $22.00 per Common Share (the midpoint of the Offering Price range), following completion of the Offering, an aggregate of 231,726,671 Common Shares will be issued and outstanding on a non-diluted basis (or 247,662,946 Common Shares on a fully diluted basis) and SK Artemis Holdings, II, LLC and API Investment LP will beneficially hold approximately 54.3% and 14.0% of the Common Shares (on a non-diluted basis), respectively (or 50.6% and 14.0% of the Common Shares (on a non-diluted basis) if the Over-Allotment Option is exercised in full).
The Offering is being made through a syndicate of underwriters led by RBC Capital Markets, TD Securities Inc., and Scotiabank, as co-lead managers, joint global coordinators and joint lead bookrunners, BMO Capital Markets and Jefferies Securities, Inc., as joint bookrunners, and CIBC Capital Markets, ATB Cormark Capital Markets, Desjardins Capital Markets, National Bank Capital Markets, MUFG, Raymond James, Bloom Burton Securities Inc., Canaccord Genuity Corp., Stifel and Paradigm Capital Inc., as co-managers.
Goodmans LLP is acting as Canadian legal counsel to Apotex and Stikeman Elliott LLP is acting as Canadian legal counsel to the underwriters. Kirkland & Ellis LLP is acting as US legal counsel to Apotex and Skadden, Arps, Slate, Meagher & Flom LLP is acting as US legal counsel to the underwriters.
The Toronto Stock Exchange ("TSX") has conditionally approved the listing of the Common Shares under the trading symbol "APTX", subject to fulfilling customary requirements of the TSX.
The Company intends to file marketing materials containing the specified pricing information regarding the upsized Offering contained in this press release under the Company's profile on SEDAR+ at www.sedarplus.com. The underwriters for the upsized Offering are relying on Coordinated Blanket Order 41-930 – Exemptions from Certain Prospectus and Disclosure Requirements to provide marketing materials containing the specified pricing information regarding the upsized Offering to potential investors without further amendment to the Company's amended and restated preliminary base PREP prospectus dated June 1, 2026 (the "Amended and Restated Preliminary Prospectus").
The Amended and Restated Preliminary Prospectus contains important information relating to the Company, the Common Shares and the Offering and remains subject to amendment and completion. Copies of the Amended and Restated Preliminary Prospectus and any amendment will be available on SEDAR+ at www.sedarplus.com. An electronic or paper copy of the Amended and Restated Preliminary Prospectus and any amendment may be obtained, without charge, from RBC Dominion Securities Inc. by mail at Attention: Distribution Centre, RBC Wellington Square, 8th Floor, 180 Wellington Street West, Toronto, Ontario, Canada, M5J 0C2 and by e-mail at distribution.rbcds@rbccm.com; or TD Securities Inc. at 1625 Tech Avenue, Mississauga, Ontario, L4W 5P5, Attention: Symcor, NPM, or by telephone at (289) 360-2009 or by email at sdcconfirms@td.com; or Scotia Capital Inc. at 40 Temperance Street, 6th Floor, Toronto, Ontario M5H 0B4, Attention Equity Capital Markets, or by phone at (416)-863-7704 or by email at equityprospectus@scotiabank.com.
The Amended and Restated Preliminary Prospectus has not yet become final for purposes of a distribution of securities to the public. No securities regulatory authority has either approved or disapproved the contents of this news release. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any province or territory of Canada prior to the time of receipt for the final base PREP prospectus or other authorization is obtained from the securities regulatory authority in such province or territory.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, the securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Apotex in any jurisdiction in which such offer, solicitation or sale would be unlawful.
AboutApotex
Apotex is a Canadian-based global health company. We improve everyday access to affordable, innovative medicines and health products for millions of people around the world, with a broad portfolio of generic, biosimilar, and innovative branded pharmaceuticals, and consumer health products. Headquartered in Toronto, with regional offices globally, including in the United States, Mexico, and India, we are the largest Canadian-based pharmaceutical company and a health partner of choice for the Americas for pharmaceutical licensing and product acquisitions.
Forward-LookingStatements
This press release may contain forward-looking information within the meaning of applicable securities laws. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, failure to complete the Offering, failure to fulfil the conditions set out in the TSX conditional approval letter and the factors discussed under "Risk Factors" in the Amended and Restated Preliminary Prospectus. Apotex undertakes no obligation to publicly update or review any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
SOURCE Apotex Health Corp.
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