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Theratechnologies Inc
Symbol TH
Shares Issued 77,013,411
Close 2021-01-11 C$ 4.00
Recent Sedar Documents

Theratechnologies arranges $40-million (U.S.) offering

2021-01-11 19:22 ET - News Release

Mr. Denis Boucher reports

THERATECHNOLOGIES ANNOUNCES US$40 MILLION BOUGHT-DEAL PUBLIC OFFERING OF UNITS

Theratechnologies Inc. has entered into an agreement with Mackie Research Capital Corp. as the lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, including Canaccord Genuity Corp. and National Bank Financial Inc., pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 14,546,000 units of the company for aggregate gross proceeds to the company of $40,001,500 (U.S.) (equivalent to approximately $51,081,915 (Canadian)) at a price of $2.75 (U.S.) per unit (equivalent to approximately $3.51 (Canadian) per unit).

Each unit shall be composed of one common share of the company and one-half of one common share purchase warrant of the company. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of $3.18 (U.S.) (equivalent to approximately $4.06 (Canadian)) at any time up to 36 months from the closing of the offering.

The company has granted to the underwriters an option to increase the size of the offering by up to an additional number of units, and/or the components thereof, that in aggregate would be equal to 15 per cent of the total number of units to be issued under the offering, to cover overallotments, if any, and for market stabilization purposes, exercisable at any time and from time to time up to 30 days following the closing of the offering.

The net proceeds from the offering will be used primarily to finance research and development activities, commercialization initiatives, general and administrative expenses, working capital needs, and other general corporate purposes.

The closing of the offering is expected to occur on or about Jan. 19, 2021, and is subject to the company receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange to list, on the date of closing, the common shares and the common shares issuable upon exercise of the warrants thereon. The company agreed to use its commercial reasonable efforts to list the warrants on the TSX on the date of closing.

In connection with the offering, the company intends to file a prospectus supplement to the company's short-form base-shelf prospectus dated Nov. 15, 2019, with the securities regulatory authorities in each of the provinces of Canada. Copies of the base-shelf prospectus and any supplement thereto to be filed in connection with the offering can be found on SEDAR.

About Theratechnologies Inc.

Theratechnologies is a biopharmaceutical company focused on the development and commercialization of innovative therapies addressing unmet medical needs.

We seek Safe Harbor.

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