IntelGenx Technologies Corp. completes C$8.2M equity offering
February 11, 2020
8.20 Million CAD
On February 11, 2020, IntelGenx Technologies Corp. closed its offering of 16,317,000 units at a price of C$0.50 per unit for gross proceeds of C $8,158,500. Each unit consists of one share of common stock and one warrant entitling the holder to purchase one share of common stock of the IntelGenx Technologies Corp. at an exercise price of C$0.75 per share. The warrants are exercisable immediately and will expire on the third anniversary of the date of their issuance.
IntelGenx is a leading oral drug delivery company primarily focused on the development and manufacturing of innovative pharmaceutical oral films. It intends to use the net proceeds of the offering for its Phase 2A Montelukast Study and general working capital requirements.
The offering was conducted, on a best efforts basis, by Echelon Wealth Partners Inc.
McCarthy Tétrault LLP advised IntelGenx with a team led by Fraser Bourne that included Loïc Sanscartier, Xin Ci, and Annie Poirier-Simard.