Date: 2015-08-19
Type of information: Private placement
Company: Telesta Therapeutics (Canada)
Investors: Consonance Capital Investors (USA - NY) Boxer Capital of Tavistock Life Sciences (Bahamas) Omega Funds (USA - MA) members of the senior management team and board of directors of Telesta
Amount: $28.6 million
Funding type: private placement
Planned used:
Others: * On August 19, 2015, Telesta Therapeutics announced that it has closed a private placement financing of $28.6 million. This transaction was led by several prominent U.S. healthcare investors, including Consonance Capital Investors, Boxer Capital of
Tavistock Life Sciences and Omega Funds. In addition, certain members of the senior management team and board of directors of Telesta participated in the transaction.
Under terms of this financing, Telesta has issued 108,966,814 common shares at a subscription price per share of C$0.3405/US$0.2623 being the 5-day volume weighted average price of Telesta’s common shares at the close of markets on Wednesday, August 12th. The issuance of these shares brings the total number of issued common shares in Telesta to 280,798,258.
Funds affiliated with Consonance Capital Investors have purchased 56,037,004 common shares in this financing representing 19.96% of the outstanding shares of Telesta post financing. The private placement was completed primarily with accredited investors outside of Canada. Ladenburg Thalmann acted as sole lead placement agent for this financing while Roth Capital Partners and Euro Pacific Canada Inc. acted as co-placement agents.
Therapeutic area: Cancer - Oncology
