Thursday, December 15, 2005
Sembiosys places $10.3 million in private deal
SEMBIOSYS ANNOUNCES $10.3 MILLION PRIVATE PLACEMENT
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SemBioSys Genetics Inc. (TSX:SBS), a biotechnology company developing a broad pipeline of protein-based pharmaceutical product candidates and non-pharmaceutical products, announced today that it has entered into an agreement with Orion Securities Inc., as lead underwriter, for an underwritten private placement of 2,576,000 units of the Company at a price of $4.00 per unit, for gross proceeds to SemBioSys of approximately $10.3 million.Sembiosys has been one heck of a capital campaign lately, announcing $2.5 million in debt financing back in November. What is not know to me is how much of this placement will be used to repay this debt financing. Either way, it looks like the company has a product that they want to invest in.
