Antibe Therapeutics closes of bought deal public offering

On February 24, 2021, Antibe Therapeutics Inc. ("Antibe") announced that it closed its previously announced bought deal public offering of 6,727,500 units at a price of C$6.00 per offered security for aggregate gross proceeds of C$40,365,000, which includes the full exercise of the over-allotment option by the underwriters.

Each unit consisted of one common share and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one common share at an exercise price per share of C$7.50 for a period of 36 months from the closing of the offering.

Canaccord Genuity Corp. acted as sole bookrunner and co-lead underwriter with Bloom Burton Securities Inc., on behalf of a syndicate of underwriters including Echelon Wealth Partners Inc., Leede Jones Gable Inc. and Paradigm Capital Inc.

Antibe intends to use the net proceeds of the offering to fully fund the adaptive Phase III efficacy trial and remaining non-clinical studies for its lead drug, complete IND-enabling studies for its second and third pipeline drugs, advance new anti-inflammatory drug candidates and for working capital and general corporate purposes.

Further information can be found on Business Wire’s website.

Antibe is a publicly-traded biotechnology company leveraging its proprietary hydrogen sulfide platform to develop next-generation safer therapies to address inflammation arising from a wide range of medical conditions.