Aequus Pharmaceuticals closes $5.2M bought deal

Ted Liu

Updated on:

Vancouver, BC – Aequus Pharmaceuticals Inc. (TSX-V: AQS; OTCQB: AQSZF) has closed its previously announced public offering of 17,250,000 units at a price of $0.30 per unit for gross proceeds of $5,175,000.

Canaccord Genuity Corp. acted as underwriter for the offering. The 17,250,000 units issued include 2,250,000 units issued and sold pursuant to the over-allotment option granted to the underwriter, which was exercised in full.

Net proceeds of the offering are to be used for the development of the company’s drug pipeline and other general corporate purposes.

Aequus Pharmaceuticals Inc. is a growing specialty pharmaceutical company focused on developing and commercializing high quality, differentiated products. Aequus’ development stage pipeline includes several products in neurology and psychiatry with a goal of addressing the need for improved medication adherence through enhanced delivery systems. Aequus intends to commercialize its internal programs in Canada alongside its current portfolio of marketed established medicines and will look to form strategic partnerships that would maximize the reach of its product candidates worldwide. Aequus plans to build on its Canadian commercial platform through the launch of additional products that are either created internally or brought in through an acquisition or license; remaining focused on highly specialized therapeutic areas.

photo credit: Aequus Pharmaceuticals