October 6, 2021: “Appili Therapeutics, a biopharmaceutical company focused on anti-infective drug development, has announced today that it will undertake an overnight marketed public offering (the “Offering”) of units (the “Units”), comprised of Class A common shares and Class A common share purchase warrants (“Warrants”).
The Offering is to be effected on a best efforts agency basis in each Province of Canada (other than Quebec) by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s base shelf prospectus dated September 19, 2019 (together with the Prospectus Supplement, the “Prospectus”).
The number of Units to be distributed, the price and composition of each Unit, and the exercise price of each Warrant will be determined in the context of the market with final terms to be determined at the time of pricing.
It is expected that the Offering will be conducted through a syndicate of agents led by Bloom Burton Securities Inc., and including iA Private Wealth Inc., Leede Jones Gable Inc., Research Capital Corporation, and Richardson Wealth Ltd.
The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.
The net proceeds of the Offering will be used primarily towards funding research and development activities for oral COVID-19 antiviral candidate Avigan®/ReeqonusTM(favipiravir), including costs associated Appili’s global Phase 3 trial evaluating Avigan/Reeqonus for the treatment of mild-to-moderate COVID-19 (PREventing SEvere COVID-19; PRESECO).
Net proceeds of the Offering will also be used to support business development initiatives to expand the Company’s portfolio of programs, as well as to fund development costs for the Company’s other product candidates, including the ATI-2307 antifungal program, and for working capital and general corporate purposes. Details as to the specific allocation of the proceeds will be disclosed in the Prospectus Supplement.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold in the United States (as such term is defined in Regulation S under the U.S. Securities Act), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Corporation’s securities in the United States.“