Trillium Closes US$150 Million Public Offering of Common Shares
September 16 2020 - 4:05PM
Trillium Therapeutics Inc. (“Trillium” or the “Company”)
(NASDAQ/TSX: TRIL), a clinical stage immuno-oncology
company developing innovative therapies for the treatment of
cancer, today announced the closing of its previously announced
underwritten public offering of common shares of the Company at a
public offering price of US$13.00 per common share (the
“
Offering”). 11,500,000 common shares were sold in
the Offering, including the full exercise by the underwriters of
their option to purchase up to an additional 1,500,000 common
shares.
The gross proceeds from the Offering were
US$149,500,000, before deducting underwriting commissions and other
offering expenses. The Company intends to use the net proceeds of
the Offering for its ongoing and planned clinical trials for its
CD47 program, including drug supply and for working capital and
general corporate purposes.
“We would like to thank all investors who placed
their trust in both our unique CD47 assets as well as Trillium
people. We are committed to speedily advance our investigational
program into multiple Phase 2 trials, and further drive evolution
of the oncology treatment paradigm toward greater adoption of
novel, ground-breaking immunotherapies,” said Dr. Jan Skvarka,
Trillium’s President and Chief Executive Officer.
Cowen and Evercore ISI acted as joint
book-running managers for the Offering. JMP Securities acted as the
lead manager and Ladenburg Thalmann and JonesTrading acted as
co-managers for the Offering.
About Trillium
Therapeutics:
Trillium is an immuno-oncology company
developing innovative therapies for the treatment of cancer. The
Company’s two clinical programs, TTI-621 and TTI-622, target CD47,
a “don’t eat me” signal that cancer cells frequently use to evade
the immune system.
For more information visit:
www.trilliumtherapeutics.com.
Caution Regarding Forward-Looking
Information:
This press release contains forward-looking
statements within the meaning of applicable United
States securities laws and forward looking information within
the meaning of Canadian securities laws (collectively,
“forward-looking statements”). Forward-looking
statements in this press release include statements relating
to Trillium’s intended use of net proceeds from the Offering and
the expected development of Trillium’s CD47 assets. You should not
place undue reliance on these forward-looking statements. Actual
results may differ materially from those projected or implied in
these forward-looking statements. Factors that may cause such a
difference include, without limitation, risks and uncertainties
related to whether or not the Company will be able to raise capital
through the sale of shares, positive results from preclinical and
early clinical research are not necessarily predictive of results
of later-stage clinical trials, market and other conditions, the
impact of general economic, industry or political conditions in the
United States, Canada or elsewhere internationally, the discretion
of our management with respect to the use of the net proceeds, and
the risks and uncertainties facing Trillium set forth in the
prospectus supplement and Trillium’s Annual Information Form for
the year ended December 31, 2019 filed with Canadian securities
authorities and on Form 40-F with the SEC, each as updated by
Trillium’s continuous disclosure filings, which are available at
www.sedar.com and at www.sec.gov. All forward-looking statements
herein are qualified in their entirety by this cautionary
statement, and Trillium disclaims any obligation to revise or
update any such forward-looking statements or to publicly announce
the result of any revisions to any of the forward-looking
statements contained herein to reflect future results, events or
developments, except as required by law.
Contact:James ParsonsChief
Financial OfficerTrillium Therapeutics Inc.416-595-0627
x232james@trilliumtherapeutics.comhttp://www.trilliumtherapeutics.com/
Media Contact:Mike BeyerSam Brown
Inc.312-961-2502mikebeyer@sambrown.com
Trillium Therapeutics (NASDAQ:TRIL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Trillium Therapeutics (NASDAQ:TRIL)
Historical Stock Chart
From Jul 2023 to Jul 2024