Knight Therapeutics grosses $Cdn180mm via unconventional private placement

Infectious disease-focused Knight Therapeutics Inc. closed a private placement of 34.3mm special warrants at $Cdn5.25 ($4.81) each, grossing $Cdn180mm. One special warrant may be exercised at no cost for one Knight common share either on a date no later than the fifth business day after the final prospectus is issued, or August 11, 2014, whichever is earlier. An affiliate owned by Knight’s CEO bought 7.62mm of the special warrants, worth $Cdn40mm. This unconventional financing began in early March and terms were changed several times. Prior to this close, the company said it grossed $Cdn75mm through the sale of 21.4mm special warrants (including the overallotment) at $Cdn3.50 each.