LSL Pharma Group Announces Closing of First Tranche of Convertible Debentures Offering
LSL Pharma Group Announces Closing of First Tranche of Convertible Debentures Offering
BOUCHERVILLE, Québec, Nov. 01, 2023 (GLOBE NEWSWIRE) -- LSL Pharma Group Inc. (TSXV: LSL) – (the "Company" or "LSL Pharma Group"), a Canadian integrated pharmaceutical company, is pleased to announce that further to its press release of September 21, 2023, the Company has closed the first tranche of its brokered private placement (the "Offering") through the issuance of 229,300 unsecured convertible debentures (each a "Debenture") at a price of $10 per Debenture for gross proceeds of $2,293,000 out of a maximum of $5,000,000 (assuming the full exercise of the agent's option to increase the size of the Offering by up to $1.0 million). The net proceeds of the Offering will be used for working capital, capital expenditures, and for general corporate purposes.
魁北克鲍彻维尔,2023年11月1日(GLOBE NEWSWIRE)——加拿大综合制药公司LSL Pharma Group Inc.(多伦多证券交易所股票代码:LSL)(“公司” 或 “LSL Pharma Group”)欣然宣布,继2023年9月21日的新闻稿之后,该公司已通过发行股票完成了第一批经纪私募股份(“发行”)229,300张无抵押可转换债券(每张 “债券”),每张债券的价格为10美元,总收益为2,293,000美元,最高为500万美元(假设全部行使)代理商可以选择将本次发行的规模扩大至100万美元)。本次发行的净收益将用于营运资金、资本支出和一般公司用途。
The Offering was led by iA Capital Markets as sole agent and sole bookrunner (the "Agent"). In connection with the first tranche of the Offering, the Company paid to the Agent a cash commission of $160,510 and issued 229,300 broker warrants (the "Broker Warrants"). The Broker Warrants are exercisable to acquire one Class A Share of the Company at a price of $0.70 for a period of 24 months from the date of issuance. The Company and the Agent are dealing at arm's length.
本次发行由iA Capital Markets作为独家代理人和唯一账簿管理人(“代理人”)牵头。在本次发行的第一部分中,公司向代理人支付了160,510美元的现金佣金,并发行了229,300份经纪人认股权证(“经纪认股权证”)。经纪人认股权证可行使以0.70美元的价格收购本公司的一股A类股票,期限为自发行之日起24个月。该公司和代理商正在保持一定距离的交易。
All securities issued pursuant to the Offering are subject to the applicable statutory hold period of four months and one day from November 1, 2023 (the "Initial Closing Date"). The Offering is subject to the final approval of the TSX Venture Exchange (the "TSXV").
根据本次发行发行的所有证券均受适用的法定持有期的约束,即自2023年11月1日(“初始截止日期”)起的四个月零一天。本次发行尚待多伦多证券交易所风险交易所(“TSXV”)的最终批准。
The Company has received conditional approval to list the Debentures on the TSXV after the expiry of each applicable hold period. The Debentures are expected to trade under the symbol LSL.DB. The listing of the Debentures is subject to final approval by the TSXV at the time of listing and the Company fulfilling the requirements as outlined in Policy 2.8 of the TSXV's policies.
在每个适用的持有期到期后,公司已获得有条件的批准,可以在多伦多证券交易所上市债券。预计这些债券将以 LSL.DB 的代码进行交易。债券的上市须经多伦多证券交易所上市时的最终批准,并且公司符合多伦多证券交易所政策2.8中概述的要求。
Each Debenture will, at the option of the holder, be convertible in its entirety into Class A shares of the capital stock of the Company (the "Class A Shares") at any time prior to the close of business on the earlier of: (i) the last business day immediately preceding the Maturity Date, and (ii) the date fixed for redemption, at a conversion price of $0.70 per Class A Share (the "Conversion Price"), subject to adjustment in certain events.
每张债券可由持有人选择,在营业结束前的任何时候全部转换为公司A类股本(“A类股票”),但以每股A类股票0.70美元(“转换价格”)为准,但以每股A类股票0.70美元(“转换价格”)中较早者为准:(i)到期日前的最后一个工作日,以及(ii)预定赎回日期在某些情况下进行调整。
The Debentures will, subject to any prior conversion or redemption, mature on October 31st, 2028 ("Maturity Date") and are payable on the Maturity Date in cash. The outstanding principal amount will bear interest at the rate of 11.00% (the "Base Rate") per year, payable in cash semi-annually on the last day of April and October of each year with the first interest payment to be paid on October 31, 2024 ("First Interest Payment Date"). Interest will accrue from the Initial Closing Date up to the First Interest Payment Date at the Base Rate, compounding semi-annually on the last day of April and October of each year (the "Interest Period").
债券将于10月31日到期,但须事先进行任何转换或兑换st,2028 年(“到期日”),并在到期日以现金支付。未偿本金将按每年11.00%的利率(“基准利率”)支付利息,每半年在每年4月和10月的最后一天以现金支付,第一笔利息将于2024年10月31日(“首次利息支付日”)支付。利息将按基准利率从初始截止日起至首次利息支付日累积,每半年在每年的4月和10月的最后一天(“利息期”)累积一次。
The annual interest rate will be recalculated twice every year on April 30th and October 31st of each year, starting April 30th, 2025 (each an "Interest Rate Review Date") until the Maturity Date, and shall be equal to the Base Rate less 100 basis points (1.0%) for each Business Objective (as defined below) achieved (the "Amended Base Rate"). Upon achievement of a Business Objective, the Amended Base Rate will be effective as of the following interest payment date of the Debentures (after April 30, 2025) until the next interest payment date thereafter if Business Objective 3 (as defined below) is achieved or until the Maturity Date if a Business Objective 1 or 2 (as defined below) is achieved.
年利率将在每年4月30日和10月31日重新计算两次st 每年的,从 4 月 30 日开始第四,2025 年(均为 “利率审查日”),直至到期日,应等于基准利率减去已实现的每个业务目标(定义见下文)的100个基点(1.0%)(“修正后的基准利率”)。业务目标实现后,修正后的基准利率将从债券的下一个利息支付日(2025年4月30日之后)生效,如果业务目标3(定义见下文)得以实现,则直到下一个利息支付日,或者如果业务目标1或2(定义见下文)得以实现,则直到到期日为止。
Business Objectives (each a "Business Objective"):
业务目标(均为 “业务目标”):
- the obtention by the Company of FDA approval for its Steri-Med plant (one-time business objective);
- the completion by the Company of the acquisition of a business which: 1) complements the Company's existing product offering and/or creates synergies with the Company's existing business operations and 2) generated a minimum of CAD$5.0 million in revenue during the last twelve-month (12) period preceding the acquisition (one-time business objective); or
- the Company generates a minimum of CAD$30 million of revenue with a 20% EBITDA margin during the fiscal period preceding the Interest Rate Review Date (annual business objective). With respect to (3), the Company's financial performance and revenue shall be calculated based on its audited financial statements and the Company's EBITDA margin shall be calculated as EBITDA (not adjusted EBITDA), as calculated in its audited financial statements, divided by its revenue (the "Business Objective 3", and the "Business Objective 1 or 2" means the Business Objective other than Business Objective 3).
- 该公司要求其Steri-Med工厂获得美国食品药品管理局的批准(一次性业务目标);
- 公司完成对以下业务的收购:1) 补充公司现有的产品供应和/或与公司现有业务运营产生协同效应;2) 在收购前的最后十二个月 (12) 期间创造了至少 500 万加元的收入(一次性业务目标);或
- 在利率审查日(年度业务目标)之前的财政期间,公司创造了至少3000万加元的收入,息税折旧摊销前利润率为20%。关于 (3),公司的财务业绩和收入应根据其经审计的财务报表计算,公司的息税折旧摊销前利润率应按经审计的财务报表中计算的息税折旧摊销前利润(未调整后的息税折旧摊销前利润)除以其收入(“业务目标3”,“业务目标1或2” 指业务目标3以外的业务目标)计算。
If, at any time following the date that is 24 months from the Initial Closing Date, for the preceding 20 consecutive trading days (i) the daily volume weighted average trading price of the Class A Shares on the TSXV is greater than 175% of the Conversion Price; and (ii) the average daily volume of the Class A Shares traded on the TSXV is no less than the number obtained when dividing the number of shares issued upon conversion of the total amount of Debentures outstanding by twenty (20), the Company will have the option to convert all of the principal amount outstanding of the Debentures at the Conversion Price with at least 30 days' prior written notice.
如果自初始收盘日起24个月之后的任何时候,在连续20个交易日内(i)多伦多证券交易所A类股票的每日成交量加权平均交易价格大于转换价格的175%;(ii)在多伦多证券交易所交易的A类股票的平均每日交易量不少于DebenxV总额转换后发行的股票数量除以所得的数字到二十 (20) 笔未偿还债券,公司可以选择转换所有本金至少提前30天发出书面通知,按转换价偿还债券。
Disclaimers
免责声明
The securities issued in connection with the Offering mentioned herein have not been and will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of securities in Canada will be made on a basis which is exempt from the prospectus and, when applicable, dealer registration requirements of such securities laws. Furthermore, none of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or of any other jurisdiction, and none of them may be offered or sold in the United States or in any other jurisdiction absent registration or an applicable exemption from the registration requirements of the 1933 Act or of any other jurisdiction. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
根据适用的加拿大证券法,与本次发行相关的证券过去和将来都没有资格向公众出售,因此,在加拿大进行的任何证券要约和销售都将不受招股说明书约束,适用时不受此类证券法的交易商注册要求的约束。此外,与本次发行相关的证券均不得根据经修订的1933年《美国证券法》(“1933年法案”)或任何其他司法管辖区进行注册,如果没有注册或不受1933年法案或任何其他司法管辖区的注册要求的适用豁免,则不得在美国或任何其他司法管辖区发行或出售。在根据任何此类司法管辖区的证券法进行注册或获得资格之前,本新闻稿不应构成出售要约或购买要约的邀请,也不得在任何此类司法管辖区的证券法下进行任何此类要约、招标或出售任何证券。
Forward-Looking Statements
前瞻性陈述
Information provided and statements contained in this press release that are not purely historical, such as those on the revenue and the EBITDA, are forward-looking statements within the meaning of the applicable securities laws. Certain statements in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to LSL Pharma Group's future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee", "ensure" or other similar expressions concerning matters that are not historical facts. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. LSL Pharma Group will not update these statements unless applicable securities laws require LSL Pharma Group to do so.
根据适用的证券法,本新闻稿中提供的信息和包含的非纯历史陈述,例如有关收入和息税折旧摊销前利润的陈述,均为前瞻性陈述。本新闻稿中的某些陈述可能构成证券法所指的前瞻性信息。前瞻性信息可能与LSL Pharma Group的未来展望和预期事件、业务、运营、财务业绩、财务状况或业绩有关,在某些情况下,可以用 “可能”;“应该”;“预期”;“预期”;“相信”;“打算”;“估计”;“预测”;“潜力”;“继续”;“预见”,“” “确保” 或其他有关非历史事实事项的类似表述。读者不应过分重视前瞻性信息,也不应在任何其他日期依赖这些信息。除非适用的证券法要求LSL Pharma Group更新这些声明,否则LSL Pharma Group不会更新这些声明。
ABOUT LSL PHARMA GROUP INC.
关于 LSL PHARMA GROUP INC.
LSL Pharma Group is a Canadian integrated pharmaceutical company specializing in the development, manufacturing and distribution of high-quality natural health products and dietary supplements in solid dosage forms, as well as high quality sterile ophthalmic pharmaceutical products. For more information, please visit and .
LSL Pharma Group是一家加拿大综合制药公司,专门开发、制造和分销高质量天然保健品和固体剂型膳食补充剂,以及高质量的无菌眼科药品。欲了解更多信息,请访问和。
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
也不 这 TSX 创业 交换 也不 它的 规则 服务 提供商 (如 那个 术语 是 被定义 在 的政策 这 TSX Venture 交易所) 承担责任 为了 充足性或 准确性 的 这个 发布。
CONTACT:
François Roberge, President and Chief Executive Officer
Telephone: 514-664-7700
Email: Investors@groupelslpharma.com
联系人:
弗朗索瓦·罗伯奇,总裁兼首席执行官
电话:514-664-7700
电子邮件:Investors@groupelslpharma.com