Aurinia Pharmaceuticals Inc. Closes US$173.1 Million Public Offering

Date closed: 3/20/2017

Value: US$173.1 million

On March 20, 2017, Aurinia Pharmaceuticals Inc. (Aurinia) completed its underwritten public offering of 25,645,000 common shares, including 3,345,000 common shares pursuant to the full exercise of the underwriters' option to purchase additional common shares (the Offering). The common shares were sold at a public offering price of US$6.75 per share. The gross proceeds to Aurinia from the Offering were approximately US$173.1 million, before deducting underwriting discounts and commissions and other estimated offering expenses. The Offering may be the largest biotech follow on financing ever conducted by a Canadian company.

Leerink Partners LLC and Cantor Fitzgerald & Co. acted as joint book-running managers for the Offering.

Aurinia, headquartered in Victoria, British Columbia, is a clinical stage biopharmaceutical company focused on the global immunology market.

BLG represented Aurinia with a team led by Stephen P. Robertson that included Kent Kufeldt and Michelle Wilkinson.