Aptose Prices the Previously Announced Underwritten Public Offering of its Common Stock

Aptose Biosciences Inc., a clinical-stage biotechnology company, is going to earn gains from the previous announced underwritten public offering as it has now priced that projected public offering of its common stock at a price of US$5.25 per share for the 10,500,000 common shares.

The company will earn the gross proceeds of approximately US$55 million from the Offering. These expected proceeds are mentioned before deducting any underwriting discounts, commissions and other expenses related to offering.

Aptose has also granted the underwriters a 30-day option for the purchase of additional common shares of up to 1,575,000 in an Offering according to the same terms and conditions as of public offering. The company is subjected to closed the offering July 20, 2020 if it meets customary closing conditions. The offering is being done by Aptose.

The company says that it will utilize the net proceeds that it received from offering for the accelerating and proceeding its expansion plan for the clinical trials of CG-806 and APTO-253. It will acquire and fund additional clinical assets via these proceeds and will use net earnings also for the working capital and general corporate purposes.

Aptose has Piper Sandler & Co. as the sole active book-running manager for this underwritten public offering. RBC Capital Markets is proceeding as senior lead manager, while Oppenheimer & Co. and H.C. Wainwright & Co. are working as lead the managers for this Offering. This offering is subject to the approval of the Toronto Stock Exchange and Nasdaq while there will be no sale of common shares in Canada. The company has based the offering on the exemption that the Section 602 of TSX Company Manual provides. Section 602 says TSX will not apply its standards to transactions which involve eligible interlisted issuers on a recognized exchange, such as Nasdaq.

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