Milestone Pharmaceuticals Announces Pricing of $30.0 Million Public Offering of Common Shares and Pre-Funded Warrants
MONTREAL and CHARLOTTE, N.C., Feb. 29, 2024 (GLOBE NEWSWIRE) — Milestone® Pharmaceuticals Inc. (“Milestone”) (Nasdaq:MIST), a biopharmaceutical company focused on the development and commercialization of innovative cardiovascular medicines, today announced the pricing of its previously announced underwritten public offering (the “Offering”) of (i) 16,666,667 of its common shares (the “Shares”) at a public offering price of $1.50 per share and (ii) in lieu of common shares, pre-funded warrants to purchase 3,333,333 common shares at a public offering price of $1.49 per pre-funded warrant, which represents the per share public offering price for the Shares less the $0.001 per share exercise price for each such pre-funded warrant (“Pre-Funded Warrants” and, together with the Shares the “Securities”). The proceeds to Milestone from the Offering, before deducting underwriting commissions and offering expenses payable by Milestone, are expected to be approximately $30.0 million. In addition, Milestone has granted the underwriters a 30-day option to purchase up to an additional 3,000,000 common shares at the public offering price, less underwriting commissions. The Offering is expected to close on or about March 4, 2024, subject to satisfaction of customary closing conditions.