Inc. (TSX: DDS; NASDAQ: DDSS) today announced that the underwriters for the
recently announced public offering of newly issued units have exercised in
full their over-allotment option to purchase an additional 1,764,706 units.
The 1,764,706 additional units are being sold at the public offering price of
US$1.70 per unit and will bring the total number of units issued under the
public offering to 13,529,412 units. The full exercise of the over-allotment
brings net proceeds from the offering to approximately US$20.9 million, after
deducting underwriting discounts and commissions, and estimated offering
Each unit in the offering is comprised of one of the Company's common
shares and a warrant to purchase 0.5 of a common share. Each whole warrant
entitles the holder to acquire one common share of the Company upon payment of
US$2.30 per share, exercisable at any time during the period beginning six
months after the date of issuance and ending three years following the date of
Deutsche Bank Securities acted as the sole book-running manager and
Canaccord Adams, Dundee Capital Markets and Versant Partners acted as
co-managers for this offering.
SOURCE Labopharm Inc.