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Opsens Inc
Symbol OPS
Shares Issued 90,368,817
Close 2021-02-04 C$ 1.94
Recent Sedar Documents

Opsens arranges $25-million bought deal

2021-02-05 07:51 ET - News Release

Mr. Louis Laflamme reports

OPSENS INC. ANNOUNCES $25 MILLION BOUGHT DEAL OFFERING

Opsens Inc. has entered into an agreement with a syndicate of underwriters led by Stifel GMP, pursuant to which the underwriters have agreed to purchase on a bought-deal basis 13,888,889 common shares of the company at a price of $1.80 per common share for gross proceeds of approximately $25-million.

The underwriters have also been granted an option, exercisable in whole or in part and from time to time, at any time until 30 days after the closing date of the offering, to purchase from the company up to an additional 2,083,333 common shares at the offering price for additional gross proceeds of approximately $3,749,999 to the company. If the overallotment option is exercised by the underwriters in full, aggregate gross proceeds of the offering (including the overallotment option) will be approximately $28.75-million.

The common shares will be offered by way of a short-form prospectus to be filed in all of the provinces of Canada pursuant to National Instrument 44-101 -- Short Form Prospectus Distributions and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended.

The company intends to use the net proceeds of the offering for working capital and general corporate purposes.

Louis Laflamme, president and chief executive officer, commented: "We are encouraged by the investor support we have received for our growth strategy. This financing supports our growth with the introduction of OptoWire III and progress in the development of a guidewire for transcatheter aortic valve replacement (TAVI or TAVR) procedures."

The offering is expected to close on or about Feb. 25, 2021, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

About Opsens Inc.

Opsens focuses mainly on coronary artery stenosis measurement in interventional cardiology. The company offers an advanced optical-based pressure guidewire that aims at improving the clinical outcome of patients with coronary artery disease. Its flagship product, the OptoWire, is a second-generation fibre optic pressure guidewire designed to provide the lowest drift in the industry and excellent lesions access.

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