Zomedica Pharmaceuticals (ZOM) Announces $25 Million Bought Deal Offering of Common Shares

February 8, 2021 5:02 PM EST
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Zomedica Corp. (NYSE American: ZOM), (“Zomedica” or the “Company”), a veterinary health company creating point-of-care diagnostics products for dogs and cats, today announced that it has entered into an underwriting agreement with H.C. Wainwright & Co., LLC under which the underwriter has agreed to purchase on a firm commitment basis 13,157,895 common shares of Zomedica, at a price to the public of $1.90 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about February 11, 2021, subject to satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

Zomedica also has granted to the underwriter a 30-day option to purchase up to 1,973,684 additional common shares at the public offering price, less underwriting discounts and commissions.

The gross proceeds are expected to be approximately $25.0 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.



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