Antibe Therapeutics closes C$28.75 million bought deal offering

On June 30, 2020, Antibe Therapeutics announced the closing of its previously announced bought deal public offering of 62,500,000 units at a price of C$0.40 per unit plus the exercise in full of the underwriters' over-allotment option of 9,375,000 units for aggregate gross proceeds of C$28,750,000. Each unit was comprised of one common share of Antibe and one-third of one common share purchase warrant. Each full warrant is exercisable to purchase one common share at any time prior to June 30, 2022 at a price of C$0.60 per common share.

The offering was made pursuant to an underwriting agreement dated June 15, 2020 with a syndicate of underwriters led by Bloom Burton, together with Echelon Wealth Partners, Paradigm Capital, Raymond James, Stifel GMP and iA Securities.

Further information can be found on Antibe's website.

Antibe Therapeutics develops safer, non-addictive medicines for pain and inflammation. Its technology involves the linking of a hydrogen sulfide-releasing molecule to an existing drug to produce an improved medicine.