Acquisition of restricted voting shares of Patheon Inc. pursuant to rights offering
NEW YORK, Jan. 2, 2013 /CNW/ - JLL Patheon Holdings, Cooperatief U.A. ("JLL Cooperatief") announces that on December 31, 2012, it acquired 524,392 restricted voting shares ("Restricted Voting Shares") of Patheon Inc. (the "Company"), pursuant to its over-subscription privilege, at a purchase price of US$3.19 per Restricted Voting Share for an aggregate payment of US$1,672,810.48.
The Restricted Voting Shares acquired by JLL Cooperatief pursuant to the over-subscription privilege represent approximately 0.38% of the Restricted Voting Shares outstanding after giving effect to the Rights Offering. Following the subscription of Restricted Voting Shares, JLL Cooperatief beneficially owns 78,144,986 Restricted Voting Shares of the Company, representing approximately 55.94% of such class of security.
The Company used the proceeds of its rights offering (the "Rights Offering"), which expired on December 28, 2012, to partially finance its acquisition of Sobel USA Inc. and Banner Pharmacaps Europe B.V. (the "Acquisition"). In connection with the Acquisition, JLL Partners Fund V, L.P., an affiliate of JLL Cooperatief, entered into a commitment letter with the Company (the "Equity Commitment Letter"), pursuant to which JLL Cooperatief provided its full subscription payments with respect to its basic subscription privilege and its maximum potential over-subscription privilege in order to satisfy its obligations under the Equity Commitment Letter.
As soon as practicable after the closing of the Rights Offering, excess funds held by the subscription agent will be returned to the Company's shareholders, including JLL Cooperatief, who provided such funds.
This press release is issued by JLL Cooperatief pursuant to section 102.1 of the Securities Act (Ontario) and National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. JLL Cooperatief will file a press release and early warning report in respect of this acquisition with the applicable Securities Commission or Securities Regulator in each jurisdiction in which the Company is a reporting issuer.
JLL Patheon Holdings, Cooperatief U.A.
450 Lexington Avenue
New York, NY 10017
SOURCE: JLL Patheon Holdings, Cooperatief U.A.For further information:
Daniel Agroskin at 212-286-8600