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Prometic Life Sciences Inc. completes C$60M public offering

Date closed: 5/25/2016

Value: C$60 million

On May 25, 2016, ProMetic Life Sciences Inc. (ProMetic( completed its bought deal public offering of common shares through a syndicate of underwriters led by RBC Capital Markets and Canaccord Genuity Corp., and which included Scotiabank, CIBC Capital Markets, National Bank Financial Inc., Paradigm Capital Inc. and Beacon Securities Limited (Underwriters). ProMetic issued 19,400,000 common shares of the Corporation in connection with the Offering at a price of C$3.10 per share for aggregate gross proceeds of C$60,140,000.

BLG also acted for ProMetic in the concurrent private placement entered into with Structured Alpha LP (SALP), an affiliate of Thomvest Asset Management Inc. This concurrent private placement was entered into following the exercise by SALP of its pre-emptive right to participate in any future public offering of ProMetic's common shares. The private placement is for the subscription of 1,921,776 common shares of the Corporation at a price of C$3.10 per common share, which will be satisfied by the cancellation of indebtedness owing to SALP by ProMetic.

BLG represented ProMetic with a team led by Pascal de Guise that included Yaniv Saragosti, Melissa Azuelos and Lyne St. Pierre.