On May 25, 2023 Aptose Biosciences Inc. ("Aptose" or the "Company") (NASDAQ: APTO, TSX: APS), a clinical-stage precision oncology company developing highly differentiated oral targeted agents to treat hematologic malignancies, reported that it has entered into a common share purchase agreement and registration rights agreement with an institutional investor (Press release, Aptose Biosciences, MAY 25, 2023, View Source [SID1234632038]).
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The agreement governs a Committed Equity Facility that provides Aptose the right, in its sole option and discretion without obligation, to sell and issue up to $25 million of its common shares over the course of 24 months to the investor, subject to certain conditions being met, and subject to certain limitations and conditions imposed by Nasdaq, SEC and other regulators.
The securities offered have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not constitute an offer or a solicitation of an offer to buy any of the Company’s shares.
No Common Shares will be sold on the Toronto Stock Exchange ("TSX") or other trading market in Canada under the common share purchase agreement. The TSX has conditionally approved the committed equity facility. For the purposes of TSX approval, the Company relied on the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as Nasdaq, provided that the transaction is being completed in compliance with the requirements of such recognized exchange.