Antibe Therapeutics announces closing of C$5.75 million bought deal offering
On February 27, 2019, Antibe Therapeutics Inc. ("Antibe") announced that it closed its previously announced bought deal public offering of 23,000,000 units at a price of C$0.25 per unit for aggregate gross proceeds of C$5,750,000, including the exercise in full of the underwriters' over-allotment option. Each unit was comprised of one common share of Antibe and one-half of one common share purchase warrant. Each full warrant is exercisable to purchase one common share at any time prior to February 27, 2022 at a price of C$0.35 per common share.
The offering was made pursuant to an underwriting agreement dated February 8, 2019 with a syndicate of underwriters led by Bloom Burton Securities Inc., together with Echelon Wealth Partners Inc. and Dominick Capital Corporation.
The net proceeds of the offering will be used to fund research and development activities, including ATB-346's clinical development, regulatory consulting fees, working capital needs and other general corporate purposes.
Antibe is a leader in developing safer therapeutics for pain and inflammation.
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