Knight Therapeutics Inc.

Knight Therapeutics Inc.

December 04, 2014 09:42 ET

Knight Therapeutics Announces Increase of Previously Announced "Bought Deal" of Common Shares to $87 Million

MONTREAL, QUEBEC--(Marketwired - Dec. 4, 2014) -


Knight Therapeutics Inc. ("Knight" or the "Company") (TSX:GUD) is pleased to announce that it has amended the terms of its previously announced bought deal offering of common shares of Knight ("Common Shares") to increase the size of the offering to approximately $87 million (the "Offering"). Under the amended terms of the Offering a syndicate of underwriters led by GMP Securities L.P. and including Cormark Securities Inc., National Bank Financial Inc., Laurentian Bank Securities Inc., Bloom Burton & Co., Clarus Securities Inc., Mackie Research Capital Corporation and TD Securities Inc. (the "Underwriters"), have agreed to purchase, on a bought deal basis, an aggregate of 12,882,800 Common Shares at a price of $6.75 per Common Share for gross proceeds of $87.0 million. In addition, the Underwriters will have the option, exercisable for a period of 30 days after the closing date, to acquire up to an aggregate of 1,932,420 additional Common Shares ($13,043,835) at the offering price to cover over-allotments, if any (the "Over-Allotment Option"). If the Over-Allotment Option is exercised in full, the total gross proceeds of the Offering shall be $100,002,735.

The Common Shares will be offered by way of a short form prospectus to be filed in all of the provinces of Canada. The Offering is scheduled to close on or about December 22, 2014 and the proceeds of the Offering will be used to fund Knight's future growth as well as for general corporate purposes.

The Offering is subject to the receipt of all necessary regulatory and stock exchange approvals.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Knight Therapeutics Inc.

Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and world markets. Knight Therapeutics' shares began trading on TSX-V on March 3, 2014 and graduated to TSX on April 29, 2014 under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company's web site at or at

Forward Looking Statements

This press release may contain forward-looking statements and predictions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Company and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the Listing Application dated February 21, 2014 and two short form prospectuses, each of which is dated April 17, 2014. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law.

Neither TSX nor its Regulation Services Providers (as that term is defined in policies of TSX) accepts responsibility for the adequacy or accuracy of this release.

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