Fennec Pharmaceuticals Announces Closing of Offering of Common Shares

Executive Summary

• Fennec Pharmaceuticals closed an underwritten registered public offering of 5,366,667 common shares at $7.50 per share, generating approximately $40.25 million in gross proceeds.
• Net proceeds will be used to repurchase and redeem indebtedness and for working capital and general corporate purposes.
• The offering was fully exercised by the underwriters’ option and was managed by Piper Sandler & Co., Craig‑Hallum Capital Group, H.C. Wainwright & Co., and Stephens Inc.

Key Details

• Offering Size: 5,366,667 common shares (including full exercise of underwriters’ option).
• Public Offering Price: $7.50 per share.
• Gross Proceeds: Approximately $40,250,000 before underwriting discounts and expenses.
• Use of Net Proceeds:
• Repurchase and redemption of certain indebtedness.
• Remaining funds for working capital and general corporate purposes.
• Book‑Running Managers: Piper Sandler & Co. and Craig‑Hallum Capital Group (joint).
• Lead Manager: H.C. Wainwright & Co.; Co‑Manager: Stephens Inc.
• Regulatory Filing: Conducted pursuant to an effective SEC registration statement; final prospectus supplement filed with the SEC and available on the SEC website.
• Offering Restrictions: Shares not offered or sold in Canada or to Canadian residents, relying on TSX exemption under Section 602.1 of the TSX Company Manual.

Notable Quotes

(No direct CEO/President quotes were included in the release.)