Thursday, March 6, 2014

Knight Therapeutics Inc. - GUD.v

Knight Therapeutics Inc. - GUD.v is a specialty pharmaceutical company focused on acquiring, in-licensing, selling and marketing innovative prescription and over-the-counter pharmaceutical products.

On March 5, 2014 the company reported News

"Knight Therapeutics Inc. ("Knight" or the "Company") (TSX VENTURE:GUD) today announced that it has entered into a letter agreement with a syndicate of underwriters led by GMP Securities L.P. and including Cormark Securities Inc. (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a private placement basis, 20,301,038 special warrants (the "Special Warrants") of the Company at a price of $3.50 per Special Warrant (the "Offering Price") for aggregate gross proceeds to Knight of $71,053,633 (the "Offering").

3487911 Canada Inc. or an affiliate thereof ("3487911"), an entity controlled by the Company's President and Chief Executive Officer, Jonathan Ross Goodman, has agreed to purchase up to 6,052,739 Special Warrants under the Offering (approximately $21 million).

Under the same letter agreement with the Underwriters, 3487911 has the right, but not the obligation, to subscribe, subject to shareholder approval, for approximately 1.12 million additional common shares of Knight on the same terms as investors in the Offering under a concurrent private placement offering to maintain its pro-rata ownership interest in the Company of approximately 34%."