In October, 2003, Angiotech Pharmaceuticals, Inc., a world leader in the emerging field of drug-coated medical devices and biomaterials, completed an offering of 5,750,000 common shares at a price of US$43.75 (C$59.01) per common share, for gross proceeds of US$251,562,500 (C$339,307,500). The underwriting syndicate for the offering was coordinated globally by Merrill Lynch & Co. Lehman Brothers and Merrill Lynch & Co. served as joint U.S. and international bookrunners and BMO Nesbitt Burns Inc. and Credit Suisse First Boston Canada Inc. served as joint Canadian bookrunners for the offering. The original financing closed on October 1, 2003, and the over allotment option closed on October 7.
David Jennings and Tamara Howarth of Vancouver firm Irwin White & Jennings acted as counsel to Angiotech, with assistance from Angiotech’s U.S. counsel Kyle Guse and Amar Murugan of Heller Ehrman White & McAullife of Menlo Park California. In Canada, Blake, Cassels, & Graydon LLP acted for the Underwriters, led by Peter Kalbfleisch and Geoff Belsher, with assistance from Andrew McLeod and Mike Raven (Securities), Bill Maclagan and Kevin Zimba (Tax) and Brian Gray and Mark Penner (Intellectual Property). The Underwriters were represented in the U.S. by Charles Ruck, Scott Shean, Gavin Stuttard and Amar Thakur of the Costa Mesa, California office of Latham & Watkins LLP.