Navigation Links
QLT announces final results of tender offer
Date:1/30/2009

VANCOUVER, Jan. 30 /PRNewswire-FirstCall/ - QLT Inc. ("QLT") (NASDAQ: QLTI; TSX: QLT) announced the final results of its modified "Dutch Auction" tender offer (the "Offer"), which expired at 5:00 p.m. (Eastern time) on January 26, 2009.

QLT has accepted for purchase and cancellation 20,000,000 of its common shares (the "Shares") at a price of US$2.50 per Share, for a total cost of US$50 million. The purchased Shares represent approximately 26.8% of the Shares outstanding as of January 26, 2009. With the completion of the Offer, QLT now has approximately 54.6 million Shares outstanding.

Based on the final report of the depository for the Offer, approximately 24.5 million shares were properly tendered and not withdrawn at or below a price of US$2.50 per Share. Shareholders who deposited Shares will have approximately 81.8% of their Shares tendered purchased for cancellation, subject to certain limited exceptions as described in the offer to purchase and issuer bid circular of QLT filed with the securities regulatory authorities in the United States and Canada on December 5, 2008, as amended on January 15, 2009. Payment for the Shares accepted for purchase and the return of all other Shares tendered and not accepted for purchase will be carried out promptly by the depository.

Goldman, Sachs & Co. and BMO Capital Markets served as dealer managers for the Offer. Georgeson Shareholder Communications Canada, Inc. served as information agent and Computershare Investor Services Inc. served as the depository.

About QLT

QLT Inc. is a global biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapies. Our research and development efforts are focused on pharmaceutical products in the field of ophthalmology. In addition, we utilize three unique technology platforms, photodynamic therapy, Atrigel(R) and punctal plugs with drugs, to create products such as Visudyne(R) and Eligard(R) and future product opportunities. For more information, visit our website at www.qltinc.com.

    QLT Plug Delivery, Inc. is a wholly-owned subsidiary of QLT Inc.
    Atrigel is a registered trademark of QLT USA, Inc.
    Visudyne is a registered trademark of Novartis AG.
    Eligard is a registered trademark of Sanofi-aventis.

QLT Inc. is listed on The NASDAQ Stock Market under the trading symbol "QLTI" and on The Toronto Stock Exchange under the trading symbol "QLT."

Certain statements in this press release constitute "forward-looking statements" and "forward-looking information" of QLT, which involve known and unknown risks, uncertainties and other factors that may cause QLT's actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. These statements are only predictions and there are a number of risks, uncertainties and other factors which could cause actual events to differ materially including market factors and QLT's operating results and other factors described in detail in QLT's Annual Information Form and Annual Report on Form 10-K, quarterly reports on Form 10-Q and other filings with the SEC and Canadian securities regulatory authorities. Forward-looking statements are based on QLT's current expectations and QLT assumes no obligation to update such information to reflect later events or developments, except as required by law.


'/>"/>
SOURCE QLT Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. ePharmaceuticals™ Announces the Launch of epharmcomply.com
2. Accuray Announces Results for Second Quarter of Fiscal 2009
3. First Coast Service Options Announces Start up of New Medicare Contract
4. CVS/pharmacy Announces National Contest for Stories of Extraordinary Caregiving
5. Genyous Biomed Announces Private Placement Financing
6. Defeat Diabetes Foundation Announces R & B Singer Howard Hewett as National Spokesperson
7. Environmental Tectonics Corporations BioMedical Division Announces Additional Sales of Hyperbaric Monoplace Chambers
8. Boston Scientific Announces Results for Fourth Quarter and Year Ended December 31, 2008
9. The Foundry Announces New Partners and Completion of Series A Financing for Eleventh Company
10. Align Technology Announces Fourth Quarter and Fiscal 2008 Results
11. Solta Medical, Inc. Announces Preliminary Financial Results for the Fourth Quarter of 2008
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... June 19, ... the dangers associated with chronic pain and the benefits of holistic treatments, Serenity ... who are suffering with Sickle Cell Disease. , Sickle Cell Disease (SCD) is a ...
(Date:6/24/2016)... ... June 24, 2016 , ... Global law firm Greenberg Traurig, ... Elite. The attorneys chosen by their peers for this recognition are considered among the ... Traurig Shareholders received special honors as members of this year’s Legal Elite Hall of ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Topical BioMedics, Inc, makers of Topricin and MyPainAway ... call for a minimum wage raise to $12 an hour by 2020 and then adjusting ... restore the lost value of the minimum wage, assure the wage floor does not erode ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... ... Living, is proud to recognize Dr. Barry M. Weintraub as a prominent plastic ... most beautiful women in the world, and the most handsome men, look naturally ...
(Date:6/24/2016)... ... June 24, 2016 , ... National recruitment firm Slone ... executive with extensive sequencing and genomics experience, as Vice President of North American Capital ... will be responsible for leading the sales team in the commercialization of the HTG ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... Research and Markets has announced the ... report to their offering. ... favourable commercial environment for MedImmune to enter. The US ageing ... serve to drive considerable growth for effective anti-influenza medications. The ... sales considerably, but development is still in its infancy. ...
(Date:6/23/2016)... RIDGE, Ill. and INDIANAPOLIS ... of students receiving a Lilly Diabetes Tomorrow,s Leaders Scholarship ... The 2016 scholarship winners, announced today online at ... to let type 1 diabetes stand in the way ... Diabetes has supported the Foundation,s scholarship program since 2012, ...
(Date:6/23/2016)... N.J. , June 23, 2016  Guerbet announced ... Premier Inc.,s Supplier Horizon Award . ... year, Guerbet was recognized for its support of Premier ... creation through clinical excellence, and commitment to lower costs. ... to receive this recognition of our outstanding customer service ...
Breaking Medicine Technology: