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Trillium prices $30M common, preferred share offering

Trillium Therapeutics Inc. priced an underwritten public offering of 2,750,000 common shares and 3,250,000 series II preferred shares at $5 apiece.

The company also granted underwriters a 30-day option to buy up to an additional 412,500 common shares. The offering is expected to close June 1.

Gross proceeds from the offering are expected to be about $30 million. Trillium plans to use the net proceeds for phase 1 trials of TTI-621 for the treatment of certain type of cancers.

Cowen is acting as the sole book-running manager for the offering while Ladenburg Thalmann is acting as co-manager.