Trillium Announces Pricing of US$15 Million Public Offering of Common Share Units

- February 22nd, 2019

Trillium Therapeutics (NASDAQ:TSX:TRIL) has announced it has priced its underwitten public offering of 6.55 million common shares of the company and 12.2 million series II non-voting confertible first preferred share units. As quoted in the press release: The Series II First Preferred Share Units are being offered to investors whose purchase of Common Share Units … Continued

Trillium Therapeutics (NASDAQ:TSX:TRIL) has announced it has priced its underwitten public offering of 6.55 million common shares of the company and 12.2 million series II non-voting confertible first preferred share units.

As quoted in the press release:

The Series II First Preferred Share Units are being offered to investors whose purchase of Common Share Units in the Offering may result in such investor, together with its affiliates and certain related parties, beneficially owning more than 4.99% of the Company’s outstanding common shares following the consummation of the Offering.

The Common Share Units are being sold at a public offering price of US$0.80 per Common Share Unit. Each Common Share Unit will be comprised of one common share of the Company (each a, “Common Share”) and one Common Share purchase warrant (each a “Common Share Warrant”).  Each Common Share Warrant will be exercisable for one Common Share at a price of US$0.96 per Common Share Warrant, subject to adjustment, at any time until 5:00 p.m. (Toronto time) on the date that is sixty (60) months following the closing of the Offering, subject to certain terms and conditions.

The Series II First Preferred Share Units are being sold at a public offering price of US$0.80 per Series II First Preferred Share Unit.  Each Series II First Preferred Share Unit will be comprised of one Series II Non-Voting Convertible First Preferred Share (each a “Series II First Preferred Share”) and one Series II First Preferred Share purchase warrant (each a “Series II First Preferred Share Warrant”).  Each Series II First Preferred Share Warrant will be exercisable for one Series II First Preferred Share at a price of US$0.96 per Series II First Preferred Share Warrant, subject to adjustment, at any time until 5:00 p.m. (Toronto time) on the date that is sixty (60) months following the closing of the Offering, subject to certain terms and conditions.

The gross proceeds to the Company from the Offering are expected to be approximately US$15 million, before deducting underwriting discounts and commissions and other estimated offering expenses. The Offering is expected to close on or around February 27, 2019, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds of the Offering for: (i) ongoing research and development activities of its SIRPαFc program; and (ii) working capital and general corporate purposes.

Cowen and Company, LLC is acting as the sole book-running manager for the Offering.

Click here to read the full press release.

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