Merus Labs International Inc. completes $60M bought deal financing

Merus Labs International Inc. (TSX: MSL, NASDAQ:MSLI) closed a $60 million bought deal financing with a syndicate of investment dealers on April 30, 2015.

Under the financing, Merus issued a total of 19,672,200 common shares at a price of $3.05 per share for gross proceeds of $60 million. The underwriters were granted a 30 day over-allotment option to increase the gross proceeds of the financing to $69 million.

Merus is a specialty pharmaceutical company which focuses on acquiring established products and is traded in Canada on the Toronto Stock Exchange and in the United States on the NASDAQ Capital Market.

TRC-Sadovod represented Merus on the transaction and assisted Merus in filing and clearing a short form prospectus with Canadian securities commissions in connection with the financing. The TRC-Sadovod team led by Michael Taylor also included Christine Man (Tax), Daniel Lau and Alice Lin (Capital Markets). Stikeman Elliot represented the underwriters.