Labopharm raises $20 million

Labopharm Inc. (TSX:DDS; NASDAQ:DDSS) raised $20 million through the sale of 11.8 million units at $1.70 in a follow-on underwritten by Deutsche Bank; Canaccord; Dundee; and Versant Partners. Each unit comprises a share and a three-year warrant to purchase 0.5 shares, with each whole warrant exercisable at $2.30. Labopharm proposed the offering late Thursday, but did not disclose the number of units or unit terms. ...