Policy & Regulation
BELLUS Health reports exercise of 1,320,296 common shares in over-allotment option
18 September 2019 -

Biopharmaceutical company BELLUS Health Inc (Nasdaq:BL) (TSX:BLU) said on Tuesday that the underwriters of its public offering of common shares have partially exercised their option to purchase an additional 1,320,296 common shares at a price of USD7.10 per common share for additional gross proceeds of approximately USD9.37m.

Following the exercise of this option, the company has raised total gross proceeds of approximately USD79.37m from the offering, before deducting the underwriting commissions and any expense.

BELLUS Health said it intends to use the net proceeds of the Offering primarily to fund research and development activities, general and administrative expenses, working capital needs and other general corporate purposes, as set out in the Supplement (as defined below).

For the offering, Jefferies, Cowen and Guggenheim Securities acted as joint book-running managers, Baird acted as lead manager and Bloom Burton Securities acted as co-manager.