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NEW YORK, June 30, 2023 (GLOBE NEWSWIRE) — Athyrium Capital Management, LP announces that the funds it manages have sold a total of 1,300,000 common shares of HLS Therapeutics (“institution’) on the facilities of the Toronto Stock Exchange at an average selling price of C$5,775 per common share, which is approximately $7.5 million in total. Common shares disposed represent a total of 4.0% of the common shares issued and outstanding. As a result of the sales, the funds managed by Athyrium Capital Management now own less than 10% of the Corporation’s issued and outstanding common stock.
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Prior to disposition, and subject to prior exercise of warrants to purchase common shares on a cashless exercise basis, funds managed by Ethereum Capital Management owned a total of 4,351,782 common shares, which represents a total of 13.45% of the issued and outstanding common shares involved. As a result of the dispositions, the funds managed by Athyrium Capital Management own 3,051,782 common shares representing approximately 9.4% of the issued and outstanding common shares.
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The common stock and warrants were originally acquired for investment purposes and the fund completed the sales as a result of investment considerations and may or may not buy securities of the corporation in the future in the open market or in private transactions, depending on market conditions and other factors. The Fund does not currently have any other plans or intentions related to its investment in the Corporation. Depending on market conditions, general economic and industry conditions, the institution’s business, financial condition and/or other relevant factors, the fund may develop other plans or intentions in the future related to one or more of the above items.
The company’s principal office 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 submitted in connection with the investment will be available in the company profile on SEDAR at www.sedar.com Or it can be obtained by calling Andrew Hyman at (212) 402-6925.
