ANN ARBOR, Mich., Feb. 11, 2021 (GLOBE NEWSWIRE) — Zomedica Corp., a veterinary health company creating point-of-care diagnostics products for dogs and cats, today announced that the closing of its previously announced public offering of 91,315,790 common shares of Zomedica, at a price to the public of $1.90 per share, less underwriting discounts and commissions. As previously announced, Zomedica also has granted to the underwriter a 30-day option to purchase up to 13,697,368 additional common shares at the public offering price, less underwriting discounts and commissions.
H.C. Wainwright & Co. acted as the sole book-running manager for the offering.
The gross proceeds are approximately $173.5 million, before deducting underwriting discounts and commissions and other offering expenses payable by Zomedica. Zomedica intends to use the net proceeds from the offering for the continued development of its diagnostic platforms, including making milestone payments, if any, as they come due, under its existing license and collaboration agreements, for strategic acquisitions if and when they become available, and other general corporate and working capital purposes and may use a portion of the net proceeds to repurchase some or all of its outstanding Series 1 Preferred Shares, although no agreement has been reached with respect to the terms or conditions of any such repurchase.
A shelf registration statement on Form S-3 (Registration No. 333-228926) relating to the securities being offered was filed with the Securities and Exchange Commission (“SEC”) and was declared effective on January 30, 2019. The offering was made only by means of a prospectus supplement and accompanying base prospectus. A final prospectus supplement and accompanying base prospectus relating to the offering were filed with the SEC and are available for free on the SEC’s website located at http://www.sec.gov. and may also be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (646) 975-6996, or by email to placements@hcwco.com.
The common shares are not being offered to residents of Canada or persons in Canada. The common shares were sold on the basis of prospectus exemptions under applicable Canadian securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying base prospectus forming a part of the effective registration statement.
About Zomedica
Based in Ann Arbor, Michigan, Zomedica (NYSE American: ZOM) is a veterinary health company creating products for dogs and cats by focusing on the unmet needs of clinical veterinarians. Zomedica’s product portfolio will include innovative diagnostics and medical devices that emphasize patient health and practice health. It is Zomedica’s mission to provide veterinarians the opportunity to increase productivity and grow revenue while better serving the animals in their care. For more information, visit www.ZOMEDICA.com.
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Investor Relations Contact:
PCG Advisory
Kirin Smith, President
ksmith@pcgadvisory.com
+1 646.863.6519