On February 18, 2010, Labopharm Inc. (TSX: DDS; NASDAQ: DDSS) announced the closing of its previously announced underwritten cross-border public offering of 11,764,706 units. The units were sold at a price of US$1.70 per unit for gross proceeds of US$20 million. The following day, Labopharm announced that the underwriters had exercised in full their over-allotment option to purchase an additional 1,764,706 units, bringing net proceeds from the offering to approximately US$20.9 million. Each unit in the offering is comprised of one of Labopharm's common shares and a warrant to purchase 0.5 of a common share. Each whole warrant entitles the holder to acquire one common share of the company upon payment of US$2.30 per share, exercisable at any time during the period beginning six months after the date of issuance and ending three years following the date of issuance. Deutsche Bank Securities acted as the sole book-running manager and Canaccord Adams, Dundee Capital Markets and Versant Partners acted as co-managers for this offering. Labopharm was advised by Frédéric Despars, Vice-President, General Counsel and Corporate Secretary and by Fasken Martineau with a team led by Louis-François Hogue and that included, among others, Frédéric Boucher, Jean-Michel Lapierre, Caitlin Rose and Jean-François Séguin.