NEW YORK, Oct. 29, 2020 (GLOBE NEWSWIRE) -- RTW Investments, LP (“RTW”) announced that on October 27, 2020, RTW and Milestone Pharmaceuticals Inc. (“Milestone”) entered into a Securities Purchase Agreement regarding the purchase of 952,380 pre-funded common share purchase warrants (the “Warrants”) at a price of $5.24 per Warrant. The Warrants are exercisable to acquire common shares of Milestone (the “Shares”) at an exercise price of $0.01 per Share.
RTW previously owned 6,655,131 pre-funded common share purchase warrants. Together with the Warrants acquired on October 27, 2020, RTW owns an aggregate of 7,607,511 warrants to acquire Shares. Neither tranche of warrants are exercisable upon 60 days’ notice or less and RTW therefore does not have beneficial ownership or control or direction over the Shares underlying the warrants.
Prior to and following the acquisition of the Warrants, and as reported by RTW on its Form 4 filed with the SEC, RTW has beneficial ownership or control or direction over 4,315,102 Shares, representing 17.47% of the issued and outstanding Shares.
RTW acquired beneficial ownership or control or direction over the Warrants of Milestone for investment purposes. RTW may further purchase, hold, vote, trade, dispose or otherwise deal in securities of Milestone in such manner as they deem advisable to benefit from changes in market prices of the Shares or other changes in the business strategy or prospects of Milestone.
RTW is located at 40 10th Avenue, Floor 7, New York, New York, 10014. For further information, please contact RTW’s principal office at (646) 343-9298. Milestone’s head office is located at 1111 Dr. Frederik-Philips Boulevard, Suite 420, Montreal, Quebec H4M 2X6.