Satellos Announces Closing of US$40M Public Offering
Satellos Bioscience (TSX: MSCL, OTCQB: MSCLF) has successfully closed a US$40 million equity offering, issuing 63,285,000 equity securities at $0.90 per common share. The offering consisted of 51,420,000 common shares and 11,865,000 pre-funded common share purchase warrants.
The offering was led by Bloom Burton Securities Inc., alongside Canaccord Genuity Corp., Haywood Securities Inc., and Leede Financial Inc. The net proceeds will fund the company's Phase 2 clinical development of SAT-3247, working capital needs, and general corporate purposes.
Notable insider participation included board member Franklin Berger (320,000 shares), CEO Frank Gleeson (160,000 shares), and Bloom Burton & Co Inc. (1,692,250 shares).
Satellos Bioscience (TSX: MSCL, OTCQB: MSCLF) ha concluso con successo un emissione di capitale di 40 milioni di dollari USA, emettendo 63.285.000 titoli azionari a $0,90 per azione comune. L'offerta consisteva in 51.420.000 azioni comuni e 11.865.000 warrant di acquisto di azioni comuni già finanziati.
L'emissione è stata guidata da Bloom Burton Securities Inc., insieme a Canaccord Genuity Corp., Haywood Securities Inc. e Leede Financial Inc. I proventi netti finanzieranno lo
Un'interessante partecipazione interna ha incluso il membro del consiglio Franklin Berger (320.000 azioni), il CEO Frank Gleeson (160.000 azioni) e Bloom Burton & Co Inc. (1.692.250 azioni).
Satellos Bioscience (TSX: MSCL, OTCQB: MSCLF) ha cerrado con éxito una oferta de capital de 40 millones de dólares estadounidenses, emitiendo 63,285,000 valores de capital a $0.90 por acción común. La oferta consistió en 51,420,000 acciones comunes y 11,865,000 warrants de compra de acciones comunes pre-financiados.
La oferta fue liderada por Bloom Burton Securities Inc., junto con Canaccord Genuity Corp., Haywood Securities Inc. y Leede Financial Inc. Los ingresos netos financiarán el desarrollo clínico de Fase 2 de SAT-3247, las necesidades de capital de trabajo y los propósitos corporativos generales.
La participación destacada de insiders incluyó al miembro de la junta Franklin Berger (320,000 acciones), al CEO Frank Gleeson (160,000 acciones) y a Bloom Burton & Co Inc. (1,692,250 acciones).
Satellos Bioscience (TSX: MSCL, OTCQB: MSCLF)는 4천만 달러의 주식 공모를 성공적으로 마감했으며, 총 63,285,000개의 자본 증권을 주당 0.90달러에 발행했습니다. 이번 공모는 51,420,000주를 보통주로, 11,865,000개의 선지급 보통주 구매 워런트를 포함했습니다.
이번 공모는 Bloom Burton Securities Inc.가 주관하고, Canaccord Genuity Corp., Haywood Securities Inc., Leede Financial Inc.와 함께 진행되었습니다. 순수익은 SAT-3247의 2상 임상 개발, 운영 자금 요구 및 일반 기업 목적을 위한 자금으로 사용됩니다.
주목할 만한 내부 참여자로는 이사인 Franklin Berger (320,000주), CEO Frank Gleeson (160,000주), 그리고 Bloom Burton & Co Inc. (1,692,250주)가 포함됩니다.
Satellos Bioscience (TSX: MSCL, OTCQB: MSCLF) a clôturé avec succès une offre d'équité de 40 millions de dollars US, en émettant 63 285 000 titres de capitaux propres à 0,90 $ par action ordinaire. L'offre était composée de 51 420 000 actions ordinaires et de 11 865 000 bons de souscription d'actions ordinaires préfinancés.
L'offre a été dirigée par Bloom Burton Securities Inc., en collaboration avec Canaccord Genuity Corp., Haywood Securities Inc. et Leede Financial Inc. Les produits nets serviront à financer le développement clinique de Phase 2 de SAT-3247, les besoins en fonds de roulement et les objectifs d'entreprise généraux.
Une participation notable des initiés a inclus le membre du conseil Franklin Berger (320 000 actions), le PDG Frank Gleeson (160 000 actions) et Bloom Burton & Co Inc. (1 692 250 actions).
Satellos Bioscience (TSX: MSCL, OTCQB: MSCLF) hat erfolgreich eine Kapitalerhöhung über 40 Millionen US-Dollar abgeschlossen und 63.285.000 Eigenkapitalwerte zu einem Preis von 0,90 USD pro Stammaktie ausgegeben. Die Emission bestand aus 51.420.000 Stammaktien und 11.865.000 vorab finanzierten Kaufoptionen auf Stammaktien.
Die Emission wurde von Bloom Burton Securities Inc. geleitet, zusammen mit Canaccord Genuity Corp., Haywood Securities Inc. und Leede Financial Inc. Die Nettomittel werden zur Finanzierung der phasengemäßen klinischen Entwicklung von SAT-3247, des Betriebskapitalbedarfs und allgemeiner Unternehmenszwecke verwendet.
Bemerkenswerte interne Beteiligungen umfassten den Vorstandsmitglied Franklin Berger (320.000 Aktien), den CEO Frank Gleeson (160.000 Aktien) und Bloom Burton & Co Inc. (1.692.250 Aktien).
- Successful raising of US$40 million from healthcare specialized investors
- Strong insider participation demonstrates management confidence
- Secured funding for Phase 2 clinical development of SAT-3247
- Significant shareholder dilution due to issuance of 63,285,000 new securities
- Pre-funded warrants could lead to additional future dilution
“We are thrilled to raise
Bloom Burton Securities Inc. acted as lead agent for the Offering (the “Lead Agent”) together with a syndicate of agents including Canaccord Genuity Corp., Haywood Securities Inc. and Leede Financial Inc. (collectively, together with the Lead Agent, the “Agents”). Under the Offering, subscribers either purchased common shares at
In
The net proceeds of the Offering will be used to advance the Company’s Phase 2 clinical development of SAT-3247, as well as working capital needs and other general corporate purposes, as set out in the Prospectus Supplement.
Franklin Berger, a member of the Board of Directors of the Company, purchased 320,000 Common Shares under the Offering, Frank Gleeson, a director and the Chief Executive Officer of the Company, purchased 160,000 Common Shares under the Offering and, Bloom Burton & Co Inc., an insider of the Company, purchased 1,692,250 Common Shares under the Offering. The subscriptions for Common Shares by Franklin Berger, Frank Gleeson and Bloom Burton & Co Inc. are related party transactions within the meaning of applicable Canadian securities laws. The subscriptions by such insiders are exempt from the formal valuation and minority approval requirements applicable to related party transactions on the basis that the value of the transactions insofar as they involve related parties is less than
The securities described herein have not been, and will not be, registered under the
About Satellos Bioscience Inc.
Satellos is a clinical-stage drug development company dedicated to developing life-improving medicines to treat degenerative muscle diseases. Satellos has invented SAT-3247 as a first-of-its-kind, orally administered small molecule drug designed to restore skeletal muscle regeneration initially in Duchenne muscular dystrophy (DMD). Satellos has generated a significant body of preclinical evidence in DMD to support its discovery that correcting muscle stem cell polarity with SAT-3247 has the potential to restore skeletal muscle regeneration to repair and strengthen muscle that has been damaged. The Company’s lead drug candidate, SAT-3247, is currently in clinical development as a potential disease-modifying treatment for DMD. Additionally, Satellos is leveraging its breakthrough research and proprietary discovery platform MyoReGenX™, to identify degenerative muscle diseases where deficits in muscle regeneration occur that are amenable to therapeutic intervention for future clinical development. For more information, visit www.satellos.com.
Notice on forward-looking statements:
This press release includes forward-looking information or forward-looking statements within the meaning of applicable securities laws regarding Satellos and its business, which may include, but are not limited to, use of proceeds from the Offering; general benefits of modulating stem cell polarity; its prospective impact on Duchenne patients and muscle regeneration generally; and Satellos’ technologies and drug development plans. All statements that are, or information which is, not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking information or statements”. Often but not always, forward-looking information or statements can be identified by the use of words such as “shall”, “intends”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate” “anticipate” or any variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “might”, “can”, “could”, “would” or “will” be taken, occur, lead to, result in, or, be achieved. Such statements are based on the current expectations and views of future events of the management of the Company. They are based on assumptions and subject to risks and uncertainties. Although management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this press release, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including, without limitation, those listed in the “Risk Factors” section of the Prospectus Supplement dated December 17, 2024 and the Annual Information Form dated March 26, 2024 (both of which are on the Company’s profile at www.sedarplus.ca). Although Satellos has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Satellos does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
NOT FOR RELEASE OR DISTRIBUTION IN
View source version on businesswire.com: https://www.businesswire.com/news/home/20241219107852/en/
Investors: Liz Williams, CFO, ir@satellos.com
Media: Jessica Yingling, Ph.D., jessica@litldog.com, +1.858.344.8091
Clinical Trial Info: medicalinfo@satellos.com
Source: Satellos Bioscience Inc.
FAQ
How much did Satellos Bioscience (MSCLF) raise in their December 2024 offering?
What is the price per share for Satellos (MSCLF) December 2024 offering?
How will Satellos (MSCLF) use the proceeds from their US$40M offering?