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Abacus Health Products, Inc. Completes $34.5 Million Bought Deal Prospectus Offering
Abacus Health Products, Inc. (CSE:ABCS) completed a bought deal prospectus offering of units for aggregate gross proceeds of $34,502,300, including the full exercise of the over-allotment option. The offering was conducted by Eight Capital, along with syndicate of underwriters including GMP Securities L.P., Haywood Securities Inc., Cormark Securities Inc. and Paradigm Capital Inc.
Abacus is engaged in the development and commercialization of over-the-counter registered topical medications with active pharmaceutical ingredients and which contain natural ingredients, including a cannabinoid-rich hemp extract containing CBD from Cannabis sativa L plant. The net proceeds from the offering are intended to be used, among other things, to accelerate Abacus’ marketing and sales programs to seek to increase its presence in retail pharmacy store locations and to advance the international distribution of its products.
Wildeboer Dellelce LLP acted for the underwriters in connection with the offering with a team comprised of Perry Dellelce, Michael Rennie, Amir Torabi and Jessica Sorbara (corporate/securities) and Katy Pitch and Marija Tasevska (tax).
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