Patheon, Inc. Completes $44M Offering

In October, 2000, Patheon, Inc. (Patheon), one of the world’s largest independent providers of commercial manufacturing and development services of prescription and over-the-counter drugs to the international pharmaceutical industry, completed an offering of 2,750,000 common shares at $14 each, to raise gross proceeds of C$38.5 million. The underwriters of the offer exercised an option to purchase an additional 412,500 common shares at $14 each for additional proceeds of C$5.775 million.

The proceeds of the offering will be used to refinance Patheon’s recent acquisition of all of the shares of Global Pharm Inc. that it didn’t previously own, to expand its capability in pharmaceutical development services and the capacity at its manufacturing facilities to reduce its debt under its revolving bank loan. In late August, Patheon entered into a definitive agreement to acquire the remaining Global Pharm Inc. shares for C$9.5 million.

Davies Ward Phillips & Vineberg LLP (previously Davies, Ward & Beck) acted for Patheon with a team comprised of William Ainley and Patrick Moyer. Blake, Cassels & Graydon LLP acted for the underwriters RBC Dominion Securities Inc., CIBC World Markets Inc., Paradigm Capital Ltd. and Canaccord Capital Corporation, with a team that includes Jeffrey Glass, Anoop Dogra and John Bursic.


Patrick E. Moyer Anoop Dogra William M. Ainley Jeff Glass John Bursic