Milestone Pharmaceuticals Announces $25 Million Private Placement

MONTREAL and CHARLOTTE, N.C., July 23, 2020 /CNW/ -- Milestone Pharmaceuticals Inc. (Nasdaq: MIST), a biopharmaceutical company focused on the development and commercialization of innovative cardiovascular medicines, today announced that it has entered into a securities purchase agreement with affiliates of an existing shareholder, RTW Investments, LP, for a $25 million private placement. The private placement is expected to close on or about July 24, 2020, subject to the satisfaction of customary closing conditions. The Company is selling pre-funded warrants to acquire an aggregate 6,655,131 common shares for aggregate gross proceeds of $25 million, or a purchase price of $3.7465 per pre-funded warrant.