Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news
DRI Healthcare Trust (DHT-UN-T) announced that it has acquired a royalty interest in pegcetacoplan for an upfront purchase price of US$24.5-million, with an option to increase its interest in pegcetacoplan in the future.
“Pegcetacoplan is the active molecule in the first targeted C3 therapy for use in adults with Paroxysmal Nocturnal Hemoglobinuria and was approved by the U.S. Food and Drug Administration and the European Medicines Agency in 2021,” the company stated. It’s marketed in the U.S. by Apellis Pharmaceuticals Inc. under the brand name Empaveli and outside the U.S. by Swedish Orphan Biovitrum AB under the brand name Aspaveli.
“Empaveli and Aspaveli provide a novel treatment option for a very serious disease and represent a significant advancement in the standard of care,” stated Behzad Khosrowshahi, CEO of DRI Healthcare Trust. “The innovative option element of the deal structure gives us the ability to increase the Trust’s exposure to pegcetacoplan should we choose to do so. This transaction provides us with another growth asset with a long-term horizon, extending the duration of our portfolio to approximately nine years.”
Net income of $42.7-million or 43 cents per share compared to $21.7-million or 23 cents per share. Adjusted EPS came in at 47 cents versus 21 cents a year ago. The expectation was for adjusted EPS of 23 cents, according to S&P Capital IQ.
Australia’s Link Administration Holdings Ltd said on Thursday it will recommend Canadian software firm Dye & Durham Ltd’s (DND-T) revised offer of A$4.81 per share, which values the share registry company at A$2.47-billion ($1.70 billion).
The revised takeover bid comes more than a week after Link said it was unable to recommend a prior offer of A$4.57 per share that valued it at A$2.34 billion.
Dye & Durham (DND) late last month cut its buyout offer to A$4.30 in cash apiece, significantly down from a bid of A$5.50 per share it had made in December, citing decrease in valuation of the company.
The expectation is for revenue to come in at $129.4-million, according to S&P Capital IQ.
The company noted that there was a large amount of transaction-based data library sales related to mergers and acquisitions in the first half of 2021.
The net loss for the three months ended June 30 was $1.8-million or 3 cents per share compared to net earnings of $10.2-million or 19 cents per share a year ago.
“Despite low seismic data library sales in the first half, the company regards overall trends in Western Canada as positive and conditions favourable for both types of seismic data sales,” it said in a release.
First Majestic Silver Corp. (FR-T) announced an “at-the-market equity program.” The company said it has an equity distribution agreement with BMO Capital Markets and TD Securities that enables it to sell shares until June 18, 2023 valued at up to US$100-million. It said the sales agreement replaced a previous equity distribution agreement.
The company said it expects to use the net proceeds of the offering to develop and/or improve its existing mines and to add to its working capital.
The company also updated its capital budget for the year to include the reallocation of development and exploration expenditures and investments in “innovative projects.” The company said it reduced its capital investments by 4 per cent to $199.5-million. It also announced that its second-quarter financial results are scheduled to be released on Aug. 4.
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