This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Patheon Announces Launch Of Rights Offering

Expected to raise U.S. $30 million

TORONTO, Nov. 19, 2012 /PRNewswire/ - Patheon Inc. (TSX: PTI), a leading provider of contract development and manufacturing services to the global pharmaceutical industry, today announced that it will launch a U.S. $30 million transferable rights offering.

Under the terms of the rights offering, all record holders of the company's restricted voting shares as of November 27, 2012 will receive, at no charge, one transferable subscription right for each restricted voting share held as of the record date.  For every 13.75 subscription rights held, rights holders will be entitled to subscribe for one whole restricted voting share at a price of $3.19 per whole share, payable in either U.S. or Canadian dollars at such holder's choice, but subject to any additional restrictions any broker, dealer, bank or other nominee may impose.  Rights holders who exercise their subscription rights in full will have the opportunity to over-subscribe for additional restricted voting shares to the extent shares are available, subject to certain limitations.  The subscription rights will be exercisable until 5:00 p.m. ( Toronto time) on December 28, 2012, unless extended.

The company expects the total purchase price of the shares offered in this rights offering to be U.S. $30 million, assuming full participation.  Patheon intends to use the net proceeds of approximately U.S. $29.5 million from the rights offering to partially finance its planned acquisition of Banner Pharmacaps and/or for general corporate purposes.

The company's restricted voting shares are traded on the Toronto Stock Exchange under the symbol "PTI".  In addition, as the subscription rights issued in connection with this rights offering are transferable, the subscription rights will be listed and traded on the Toronto Stock Exchange under the symbol "PTI.RT".

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs