venBio Global Strategic Fund, L.P.

July 05, 2017 17:57 ET

venBio Global Strategic Fund, L.P. Announces Update to Stake in Aurinia Pharmaceuticals Inc.

SAN FRANCISCO, CALIFORNIA--(Marketwired - July 5, 2017) - venBio Global Strategic Fund, L.P. ("venBio") announced today that as a result of the closing on March 14, 2017 of a public offering (the "Offering") of 22,300,000 common shares ("Common Shares") by Aurinia Pharmaceuticals Inc. (the "Company"), the number of Common Shares held by venBio decreased to less than 10% of the issued and outstanding Common Shares.

Prior to the Offering, venBio owned 5,457,522 Common Shares, representing approximately 10.2% of the then issued and outstanding Common Shares. Immediately after the completion of the Offering, venBio owned 5,457,522 Common Shares, representing approximately 7.2% of the then issued and outstanding Common Shares.

Moreover, between March 29, 2017 and May 10, 2017, venBio sold on the secondary market 6,206,327 Common Shares, being the entirety of the Common Shares that it held (including Common Shares acquired pursuant to the exercise of warrants). As a result, venBio does not own any Common Share or warrant to purchase Common Shares as of the date hereof.

venBio held Common Shares for investment purposes. venBio reviews its holdings from time to time and may, depending on the evolution of the Company's business, financial condition, the market for the Company's securities, general economic conditions and other factors, reacquire securities of the Company through market transactions, private agreements, treasury issuances, exercise of options, convertible securities or otherwise.

This press release is issued pursuant to the early warning requirements of applicable Canadian securities laws which also requires an early warning report to be filed on SEDAR containing additional information with respect to the foregoing matters. For further information or a copy of the early warning report, please contact David Pezeshki at 415-800-0809 or visit www.sedar.com.

Contact Information

  • David Pezeshki
    415-800-0809