​Aurinia completes US$52 million private placement

Date closed: 2/14/2014

Value: US$52 million

On February 14, 2014, Aurinia Pharmaceuticals Inc. (Aurinia) completed, subject to regulatory approval, a US$52 million private placement (the Offering). Aurinia intends to use the net proceeds from the Offering to advance the clinical and nonclinical development of its lead drug candidate, voclosporin, as a therapy for lupus nephritis and for general corporate purposes.

Under the terms of the Offering, Aurinia issued 18,919,404 units (the Units) at a subscription price per Unit of US$2.7485 (C$3.038), each Unit consisting of one common share and one quarter (0.25) of a common share purchase warrant (a Warrant), exercisable for a period of five years from the date of issuance at an exercise price of US$3.2204 (C$3.56).

A Canadian dollar translation of U.S. dollar amounts is provided using the Bank of Canada closing exchange rate on February 10, 2014, the date of the closing price applicable to the price reservation form filed by Aurinia for the Offering, of C$1.00:US$0.9046.

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

BLG represented Aurinia Pharmaceuticals Inc. with a team led by Kent Kufeldt that included Stephen Robertson and Andy Roy.