trending Market Intelligence /marketintelligence/en/news-insights/trending/px56gm4psx38hxqfknxcwa2 content esgSubNav
In This List

Pediapharm closes C$62M upsized private placement

Blog

Global M&A By the Numbers: Q3 2021

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

University Essentials: From Crisis to Resilience – Navigating Sustainable Recovery

Blog

EV impact; vaccines to boost job market; coal supply constraints


Pediapharm closes C$62M upsized private placement

Canada's Pediapharm Inc. closed its previously announced private placement of subscription receipts.

The offering, which comprised a brokered and nonbrokered private placement, was upsized to raise gross proceeds of about C$62 million, from the initially announced C$60 million.

Pediapharm issued subscription receipts exchangeable for either units or convertible debentures, which are convertible into units. Each unit comprised 1 common share and half of 1 common share purchase warrant.

A total of 58,676,397 unit subscription receipts, worth about C$20 million, and 42,000 debenture subscription receipts, worth about C$42 million, were issued in the offering.

Net proceeds will help fund Pediapharm's previously announced cash purchase of Medac GmbH's Medac Pharma Inc., expected to close on or about Oct. 16, as well as Pediapharm's ongoing operations and strategic initiatives.

Cormark Securities Inc. and Mackie Research Capital Corp. are the co-lead agents and joint book runners for the brokered private placement. Goodwood Inc. assisted in the nonbrokered private placement.

Pediapharm distributes prescription medicines for infants, children and adolescents with pathological conditions.