Bloom Burton & Co. Inc. Announces Changes to Holdings in Satellos Bioscience Inc.

Rhea-AI Summary

Bloom Burton & Co has announced changes in its holdings of Satellos Bioscience Inc. The firm acquired 1,692,250 common shares at $0.90 per share, totaling $1,523,025, through a public offering dated December 17, 2024. Despite this acquisition, Bloom Burton's beneficial holdings decreased by approximately 3.7% on a partially diluted basis.

Following the transaction, Bloom Burton, its affiliates, and Brian Bloom now own 10,400,818 shares and 7,528,732 derivative securities, representing approximately 6.3% ownership on a non-diluted basis and 10.3% on a partially diluted basis. Previously, they held 8,708,568 shares and 7,528,732 derivative securities, representing 7.6% non-diluted and 13.3% partially diluted ownership.

Positive

• Significant investment of $1.52M shows confidence in the company

Negative

• Decrease in beneficial holdings by 3.7% on partially diluted basis
• Reduction in ownership percentage from 7.6% to 6.3% on non-diluted basis
• Decline in partially diluted ownership from 13.3% to 10.3%

News Market Reaction

+0.36%

1 alert

+0.36% News Effect

On the day this news was published, MSCLF gained 0.36%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Toronto, Ontario--(Newsfile Corp. - December 20, 2024) - Bloom Burton & Co. Inc. (Bloom Burton) announces that, today, it acquired 1,692,250 common shares (Shares) of Satellos Bioscience Inc. (Corporation) in connection with a public offering of the Corporation by way of a prospectus supplement dated December 17, 2024 to the short form prospectus dated April 7, 2024. Bloom Burton purchased the Shares at a price of $0.90 per Share for total consideration of $1,523,025. Combined with former treasury issuances of Shares by the Corporation, this resulted in a decrease of beneficial holdings of approximately 3.7% of the outstanding Shares on a partially diluted basis since the date of the last early warning report.

Prior to this acquisition, Bloom Burton, its affiliates and Brian Bloom beneficially owned 8,708,568 Shares and 7,528,732 derivative securities (i.e., warrants, broker warrants, compensation options and stock options), representing approximately 7.6% of the outstanding Shares on a non-diluted basis and approximately 13.3% on a partially diluted basis assuming exercise of such derivative securities (including all of the stock options). After this acquisition, Bloom Burton, its affiliates and Brian Bloom beneficially own 10,400,818 Shares and 7,528,732 derivative securities, representing approximately 6.3% of the outstanding Shares on a non-diluted basis and approximately 10.3% on a partially diluted basis assuming exercise of such derivative securities (including all of the stock options).

The securities noted above are held for investment purposes. Bloom Burton has a long-term view of the investment and may acquire additional securities including either on the open market or through private acquisitions or sell the securities including either on the open market or through private dispositions in the future, depending on market conditions, reformulation of plans and/or other relevant factors.

The Corporation is located at Royal Bank Plaza, South Tower, 200 Bay Street, Suite 2800, Toronto, Ontario, M5J 2J1. A copy of the early warning report with respect to the foregoing will appear on the Corporation's profile on SEDAR at www.sedar.com and may also be obtained by contacting Jolyon Burton, Director, Bloom Burton at (416) 640-7575 or at info@bloomburton.com. Bloom Burton is a corporation existing under the laws of Ontario, specializing in the healthcare industry, with its head office at 181 Bay St., Suite 3410, Toronto, Ontario M5J 2T3.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234822

FAQ

How many shares did Bloom Burton acquire in Satellos Bioscience in December 2024?

Bloom Burton acquired 1,692,250 common shares of Satellos Bioscience at $0.90 per share, totaling $1,523,025.

What is Bloom Burton's current ownership percentage in Satellos Bioscience?

After the acquisition, Bloom Burton owns 6.3% of outstanding shares on a non-diluted basis and 10.3% on a partially diluted basis.

How did Bloom Burton's ownership percentage change after the December 2024 transaction?

Their beneficial holdings decreased by 3.7% on a partially diluted basis, from 13.3% to 10.3%.

What is the total number of shares and derivative securities Bloom Burton owns in Satellos Bioscience?

Bloom Burton owns 10,400,818 shares and 7,528,732 derivative securities after the transaction.