Satellos Closes US$57.2 Million Public Offering in Canada and the United States, Including Exercise of Underwriters' Option to Purchase Additional Shares

Executive Summary

• Satellos Bioscience Inc. completed its previously‑announced underwritten public offering of 5,168,019 common shares plus an underwriters’ option for an additional 712,574 shares and pre‑funded warrants for 495,049 shares.
• The securities were sold at US $10.10 per share (pre‑funded warrants at US $10.09999), generating approximately US $57.2 million in gross proceeds before underwriting discounts and commissions.
• Net proceeds will be used primarily to fund ongoing R&D, advance SAT‑3247 through Phase 2/Phase 3 clinical trials (and potential additional indications), and support other discovery‑stage programs.

Key Details

• Offering Size: 5,168,019 common shares issued; underwriters exercised option for an additional 712,574 shares; pre‑funded warrants issued for 495,049 shares.
• Pricing: Common shares – US $10.10 per share (C$13.81); Pre‑funded warrants – US $10.09999 per warrant (C$13.80999), reflecting a C$0.00001 exercise price per warrant.
• Gross Proceeds: Approximately US $57.2 million before underwriting discounts and commissions.
• Underwriters / Managers: Joint book‑running managers – Leerink Partners, Guggenheim Securities, Oppenheimer & Co.; co‑manager – Bloom Burton Securities Inc.
• Use of Proceeds:
• Fund ongoing research and development activities.
• Advance SAT‑3247 through Phase 2 to Phase 3 clinical trials (including potential new indications).
• Invest in other discovery‑stage or pre‑clinical programs, including evaluation of additional dystrophies.
• Regulatory Filings: Offering made under a prospectus supplement to the short‑form base shelf prospectus dated October 29 2025 (Canada) and a Form F‑10 registration statement (U.S.) filed with the SEC.
• Related Party Transaction: Board member Franklin Berger purchased 24,750 common shares; transaction valued at less than 25 % of market cap, exempt from formal valuation/minority approval requirements. No other insiders participated.
• Board Approval: The Offering was approved by Satellos’ Board of Directors.

Notable Quotes

(No executive quotes were included in the release.)