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Biotech / Medical : AXCAN Pharma(AXCA)..A GUT FEELING! -- Ignore unavailable to you. Want to Upgrade?

To: Jim Oravetz who wrote (35)	5/14/2001 12:38:52 PM
From: Jim Oravetz	Read Replies (1) \| Respond to of 46

Axcan Pharma To Sell 3M Shares At C$17 Each Dow Jones Newswires MONT SAINT-HILAIRE, Que. -- Axcan Pharma Inc. (AXCA) will sell 3 million common shares at C$17 each, for gross proceeds of C$51 million. In a news release, the pharmaceutical company said the syndicate of underwriters is led by National Bank Financial Inc. The underwriters will have the option to buy up to an additional 1 million common shares on the same terms until filing of the preliminary prospectus, it noted. Axcan said the offering, which will close on or about May 31, is being done in Canada under the Prompt Offering Qualification system and in the U.S. under applicable exemptions. The company plans to use the net proceeds of the offering to reimburse a portion of or the entire outstanding loan to Schwarz Pharma Inc. At last report, Axcan had about 34.5 million shares outstanding.