Skip to main content
This website uses cookies. By continuing to use this website you are agreeing to our use of cookies as described in our privacy policy.
Client Work

BioSyntech closes rights offering for US$3.1 million

Fasken
Reading Time 1 minute read Subscribe
Client

BioSyntech

On October 16, 2009, BioSyntech, Inc. (TSX: BSY) announced the successful closing of its previously announced offering of rights to purchase 310,000 units, each comprised of $10 principal amount of subordinated secured convertible debentures and 91 common share purchase warrants, at a price of $10 per unit, for gross aggregate proceeds of $3,100,000 to BioSyntech. BioSyntech is a biotechnology company developing biotherapeutic thermogels for regenerative medicine. It intends to use the net proceeds from the offering to complete the formal review of the strategic alternatives of the company, including a commercial partnership in respect of its cartilage repair device, BST-CarGel(R), and/or a corporate sale of BioSyntech, to pursue the pivotal trial for BST-CarGel(R) and for general corporate purposes, including working capital. Biosyntech was advised in this transaction by Michel Boislard, Jean-Pierre Chamberland, Jean Michel Lapierre and Caitlin Rose (securities) and Thomas Copeland (tax) of Fasken Martineau.

    Subscribe

    Receive email updates from our team

    Subscribe