NEW YORK, June 30, 2023 (GLOBE NEWSWIRE) -- Athyrium Capital Management, LP announced that funds managed by it have sold an aggregate of 1,300,000 common shares of HLS Therapeutics (the “Corporation”) over the facilities of the Toronto Stock Exchange at an average sale price of C$5.775 per common share, representing approximately $7.5 million in the aggregate. The common shares disposed of represent an aggregate of 4.0% of the issued and outstanding common shares. As a result of the sales, funds managed by Athyrium Capital Management now hold less than 10% of the issued and outstanding common shares of the Corporation.
Prior to the disposition, and taking into account the prior exercise of warrants to purchase common shares on a cashless exercise basis, funds managed by Athyrium Capital Management held an aggregate of 4,351,782 common shares, representing an aggregate of 13.45% of the issued and outstanding common shares. As a result of the dispositions, funds managed by Athyrium Capital Management hold 3,051,782 common shares representing approximately 9.4% of the issued and outstanding common shares.
The common shares and warrants were originally acquired for investment purposes and the fund completed the sales as a result of investment considerations and it may or may not purchase or sell securities of the Corporation in the future on the open market or in private transactions, depending on market conditions and other factors. The fund currently has no other plans or intentions that relate to its investment in the Corporation. Depending on market conditions, general economic and industry conditions, the Corporation’s business and financial condition and/or other relevant factors, the fund may develop other plans or intentions in the future relating to one or more of the above items.
The head office of the Corporation is located at 10 Carlson Court, Suite 701, Etobicoke, Ontario, M9W 6L2. This news release is issued under the early warning provisions of applicable Canadian securities legislation. A copy of the early warning report filed in connection with the investment will be available on the Corporation’s profile on SEDAR at www.sedar.com or may be obtained by contacting Andrew Hyman at (212) 402-6925.
