QUÉBEC CITY, Nov. 20, 2013 /CNW Telbec/ - Aeterna Zentaris Inc. (NASDAQ:
AEZS) (TSX: AEZ) (the "Company") today announced the pricing of its
previously announced public offering of 13.1 million units (the
"Offering"), with each unit consisting of one common share and one
whole warrant to purchase one common share, at a purchase price of
US$1.15 per unit. Each warrant will be exercisable for a period of five
years following the issuance thereof at an exercise price of US$1.60
per share. Net proceeds from the Offering are expected to be
approximately US$13.7 million, after deducting underwriting commissions
and other expenses related to the Offering.
Canaccord Genuity Inc. is acting as the sole book-running manager for the Offering. Maxim Group LLC acted as co-manager for the Offering.
The Offering is expected to close on or about November 25, 2013, subject
to customary closing conditions including, but not limited to, the
receipt of all necessary regulatory approvals, including the approvals
of the Toronto Stock Exchange and the NASDAQ Capital Market.
The Company intends to use the net proceeds from the Offering to
continue to fund its ongoing drug development activities, primarily for
the advancement of its zoptarelin doxorubicin (AEZS-108) program,
secondly for its macimorelin acetate (AEZS-130) program, including the
preparation of its commercial launch, as well as for the potential
addition of commercialized products to the Company's pipeline, future
negative cash flow, general corporate purposes and working capital.
The Offering is being conducted pursuant to the Company's effective
shelf registration statement on Form F-10 filed with the U.S.
Securities and Exchange Commission (the "SEC"), its corresponding
Canadian base shelf prospectus and an exemption from the Autorité des marchés financiers permitting the Company to offer common shares and warrants in the
United States. A final prospectus supplement relating to the Offering,
along with the accompanying base shelf prospectus, will be filed with
the SEC and with the securities regulatory authority in each of the
provinces of Canada. Electronic copies of the preliminary and final
prospectus supplements and the accompanying base shelf prospectus can
be obtained on the SEC's website at www.sec.gov or on the SEDAR website maintained by the Canadian Securities
Administrators at www.sedar.com. Copies of the final prospectus supplement and the accompanying base
shelf prospectus relating to the Offering may be obtained, when
available, upon request by contacting Canaccord Genuity Inc.,
Attention: Syndicate Department, 99 High Street, 12th Floor, Boston,
Massachusetts 02110, or by telephone at (617) 371-3900.
This press release does not and shall not constitute an offer to sell or
the solicitation of an offer to buy any of the Company's securities,
nor shall there be any sale of the Company's securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.
About Aeterna Zentaris Inc.
Aeterna Zentaris is a specialty biopharmaceutical company engaged in
developing novel treatments in oncology and endocrinology. The
Company's pipeline encompasses compounds from drug discovery to
regulatory approval. For more information, visit www.aezsinc.com.
This press release contains forward-looking statements made pursuant to
the safe harbour provisions of the U.S. Securities Litigation Reform
Act of 1995. Forward-looking statements involve known and unknown risks
and uncertainties that could cause the Company's actual results to
differ materially from those in the forward-looking statements. Such
risks and uncertainties include, among others, the availability of
funds and resources to pursue R&D projects, the successful and timely
completion of clinical studies, the risk that safety and efficacy data
from any of our Phase 3 trials may not coincide with the data analyses
from previously reported Phase 1 and/or Phase 2 clinical trials, the
ability of the Company to take advantage of business opportunities in
the pharmaceutical industry, uncertainties related to the regulatory
process and general changes in economic conditions. Investors should
consult the Company's quarterly and annual filings with the Canadian
and U.S. securities commissions for additional information on risks and
uncertainties relating to forward-looking statements. Investors are
cautioned not to rely on these forward-looking statements. The Company
does not undertake to update these forward-looking statements. We
disclaim any obligation to update any such factors or to publicly
announce the result of any revisions to any of the forward-looking
statements contained herein to reflect future results, events or
developments, unless required to do so by a governmental authority or
by applicable law.
SOURCE: Aeterna Zentaris Inc.
For further information:
Ginette Beaudet Vallières
Investor Relations Coordinator
(418) 652-8525 ext. 265
Director of Communications
(418) 652-8525 ext. 406