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Bellus Health closes C$20M equity offering

Bellus Health Inc. closed its equity offering of 52,631,580 common shares at 38 Canadian cents per share for gross proceeds of C$20 million.

Certain insiders of the company, including its CEO and president, Roberto Bellini, purchased 2,889,477 common shares, or 5.5% of the shares issued.

The company will use the net proceeds to fund research and development activities, including the clinical development of the drug BLU-5937 for chronic cough, general and administrative expenses, working capital needs and other general corporate purposes.

The offering was led by Bloom Burton Securities Inc. on behalf of a syndicate of agents that included Cormark Securities Inc. and Mackie Research Capital Corp.