23:28:53 EST Tue 25 Feb 2020
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Trillium Therapeutics Inc (2)
Symbol TRIL
Shares Issued 28,038,831
Close 2020-01-23 C$ 5.56
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Trillium prices equity raise at $2.75 (U.S.) a share

2020-01-23 08:40 ET - News Release

Mr. James Parsons reports


Trillium Therapeutics Inc. has priced its previously announced underwritten public offering of 35,731,818 common shares of the company and 1.25 million Series II non-voting convertible first preferred shares of the company. The common shares are being sold at a public offering price of $2.75 (U.S.) per common share and the Series II first preferred shares are being sold at a public offering price of $2.75 (U.S.) per Series II first preferred share.

In connection with the offering, Trillium has granted the underwriters a 30-day option to purchase up to an additional 5,547,272 common shares.

The Series II first preferred shares are being offered to investors whose purchase of common shares in the offering may result in such investor, together with its affiliates and certain related parties, beneficially owning more than 4.99 per cent of the company's outstanding common shares following the consummation of the offering.

The gross proceeds to the company from the offering are expected to be approximately $101.7-million (U.S.), before deducting underwriting discounts and commissions and other estimated offering expenses. The offering is expected to close on or around Jan. 28, 2020, subject to the satisfaction of customary closing conditions.

The company intends to use the net proceeds of the offering for: (i) the clinical development of its CD47 programs; and (ii) research, manufacturing and regulatory activities, and working capital and general corporate purposes.

Cowen is acting as the sole book-running manager for the offering. Bloom Burton Securities Inc. is acting as co-manager for the offering.

No common shares or Series II first preferred shares will be offered or sold in Canada as part of this offering. The offering is subject to market conditions, as well as a number of closing conditions, including Nasdaq Capital Market and Toronto Stock Exchange approvals, and there can be no assurance as to whether or when the offering may be completed. For the purposes of TSX approval, the company intends to rely on the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as Nasdaq.

About Trillium Therapeutics Inc.

Trillium is an immuno-oncology company developing innovative therapies for the treatment of cancer.

We seek Safe Harbor.

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