Trillium Therapeutics Announces “At-The-Market” Equity Program
May 06 2020 - 6:00AM
Trillium Therapeutics Inc. (“Trillium” or the “Company”)
(NASDAQ/TSX: TRIL), a clinical stage immuno-oncology
company developing innovative therapies for the treatment of
cancer, today announced that it has established an at-the-market
equity program (the “ATM Program”). In connection with the ATM
Program, the Company entered into a sales agreement (the “Sales
Agreement”) with Evercore Group L.L.C. (the “Agent”) pursuant to
which the Company may sell, through the Agent, acting as agent
and/or principal, such number of common shares of the Company
(“Common Shares”) as would result in aggregate gross proceeds to
the Company of up to $50 million. Sales of Common Shares
through the Agent, acting as agent, will be made through “at the
market” issuances on the Nasdaq Capital Market (“NASDAQ”) at the
market price prevailing at the time of each sale, and, as a result,
sale prices may vary. No Common Shares will be offered or sold on
the Toronto Stock Exchange or any other trading markets in Canada.
The volume and timing of distributions under the
ATM Program, if any, will be determined in the Company’s sole
discretion. The Company intends to use the net proceeds from the
ATM Program, if any, for working capital and general corporate
purposes, which may include advancing the development of its
SIRPaFc program.
The Company has filed a prospectus supplement
dated May 5, 2020 to the base prospectus included in its U.S.
registration statement on Form F-3 (Registration No. 333-237810)
declared effective on May 4, 2020. The prospectus supplement
(together with the related base prospectus) is available on the
SEC’s website (www.sec.gov). Before you invest, you should read the
U.S. prospectus supplement and the related base shelf prospectus
and other documents that the Company has filed with the SEC for
more complete information about the Company, the Sales Agreement
and the ATM Program.
Listing of the Common Shares sold pursuant to
the ATM Program on NASDAQ and the TSX will be subject to fulfilling
all applicable listing requirements.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any jurisdiction in which an offer,
solicitation or sale would be unlawful prior to registration or
qualifications under the securities laws of any such
jurisdiction.
About Trillium Therapeutics
Trillium is an immuno-oncology company
developing innovative therapies for the treatment of cancer. The
company’s two clinical programs, TTI-621 and TTI-622, target
CD47, a “do not eat” signal that cancer cells frequently use to
evade the immune system.
For more information visit:
www.trilliumtherapeutics.com
Caution Regarding Forward-Looking
Information
This press release contains forward-looking
statements within the meaning of applicable United States
securities laws and forward-looking information within the meaning
of Canadian securities laws (collectively, "forward-looking
statements"). Forward-looking statements in this press release
include, without limitation, statements regarding the ATM Program,
including the intended use of proceeds from any sale of our Common
Shares. With respect to the forward-looking statements contained in
this press release, Trillium has made numerous assumptions
regarding, among other things: the effectiveness and timeliness of
preclinical and clinical trials; and the completeness, accuracy and
usefulness of the data. While Trillium considers these assumptions
to be reasonable, these assumptions are inherently subject to
significant scientific, business, economic, competitive, market and
social uncertainties and contingencies. Additionally, there are
known and unknown risk factors that could cause Trillium's actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements contained in this press
release. A discussion of risks and uncertainties facing Trillium
appears in Trillium's Annual Information Form for the year ended
December 31, 2019 filed with Canadian securities authorities and on
Form 40-F with the U.S. Securities Exchange Commission, and in the
prospectus supplement dated May 5, 2020, each as updated by
Trillium's continuous disclosure filings, which are available at
www.sedar.com and at www.sec.gov. All forward-looking
statements herein are qualified in their entirety by this
cautionary statement, and Trillium disclaims any obligation to
revise or update any such forward-looking statements or to publicly
announce the result of any revisions to any of the forward-looking
statements contained herein to reflect future results, events or
developments, except as required by law.
Investor Relations:James
ParsonsChief Financial OfficerTrillium Therapeutics Inc.
416-595-0627 x232james@trilliumtherapeutics.com
www.trilliumtherapeutics.com
Media Relations:Mike BeyerSam
Brown Inc.312-961-2502mikebeyer@sambrown.com
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