CPE Media News (1/13/2019) – BDC Capital Inc. disclosed that it has sold a grand total of 396 common shares of Clementia Pharmaceuticals Inc. (NASDAQ: CMTA) on the NASDAQ Stock Market at an average price of US $14.0976 or CDN $18.6920 per share for gross proceeds to BDC Capital of US $5,582.65.
BDC Capital Inc. received 5,497,607 common shares following the conversion of Class A and Class B preferred shares when Clementia Pharmaceuticals completed its initial public offering (IPO) priced at US $15 per share on August 2, 2017.
BDC Capital has not sold any shares since the IPO. Following the sale, BDC Capital will own 5,497,211 common shares, representing approximately 14.538% of the issued and outstanding common shares of Clementia Pharmaceuticals.
BDC Capital said it sold the 396 common shares, 0.0072% of its total holding, as a result of an investment decision and, it intends to dispose of additional common shares.
BDC Capital acquired Clementia shares at an average of US $3.13 as part of Clementia’s common share, Class A and Class B preferred share financings prior to its public listing on NASDAQ.
photo credit: Clementia Pharmaceuticals
News Release
BDC Capital Inc. sells Common shares of Clementia Pharmaceuticals Inc.
Montréal, Qc, January 11, 2019 – On January 11, 2019, BDC Capital Inc. (“BDC Capital”), a wholly-owned subsidiary of the Business Development Bank of Canada (the “BDC”), sold 396 common shares (the “Common Shares”) in the capital of Clementia Pharmaceuticals Inc. (“Clementia”) on the NASDAQ Stock Market (the “Sale”) at an average price of US$14.0976 per Common Share (C$18.6920 per Common Share based on the Bank of Canada exchange rate on January 11, 2019), for aggregate gross proceeds to BDC Capital of US$5,582.65 (C$7,402.04 based on the Bank of Canada exchange rate on January 11, 2019).
Immediately prior to the Sale, BDC beneficially owned or had control or direction over, directly or indirectly, an aggregate of 5,497,607 Common Shares, representing approximately 14.539% of the issued and outstanding Common Shares. As of January 11, 2019, after giving effect to the Sale, BDC beneficially owns or has control or direction over, directly or indirectly, an aggregate of 5,497,211 Common Shares, representing approximately 14.538% of the issued and outstanding Common Shares.
BDC Capital sold the Common Shares as a result of an investment decision and, based on current market conditions, BDC Capital currently intends to dispose of additional Common Shares. BDC Capital may in the future wish to increase or further decrease its shareholdings in Clementia as circumstances warrant, whether in the open market, by privately negotiated agreements, or otherwise. Any transaction that BDC Capital may pursue may be made at any time and from time to time without prior notice and will depend on a variety of factors, including, without limitation, the price and availability of common shares of Clementia, subsequent developments affecting Clementia, its business and prospects, other investment and business opportunities available to BDC Capital, general industry and economic conditions, the securities markets in general, compliance with applicable securities laws and other factors deemed relevant by BDC Capital.
An early warning report relating to this transaction will be filed on SEDAR under Clementia’s profile at www.sedar.com. To obtain a copy of such report, please contact Joanne
Lajeunesse, Marketing and Public Affairs, at 514-461-2739. The head office of BDC Capital is located at 5 Place Ville-Marie, Suite 300, Montréal, Québec, H3B 5E7. The BDC is
Canada’s business development bank, a financial institution dedicated exclusively to entrepreneurs. The head office of Clementia is located at 550-4150 Sainte-Catherine West,
Montréal, Québec, H3Z 2Y5.