On January 6, 2005, ID Biomedical Corp. completed an asset-backed loan transaction with Vancouver-based Second City Capital Partners I, Limited Partnership for proceeds of US$60 million. ID Biomedical used the proceeds from the loan to repurchase approximately 4.9 million subscription receipts from Shire BioChem Inc. that were issued in connection with ID Biomedical's acquisition of the vaccine business of Shire Pharmaceuticals Group plc in September 2004. Under the agreement with Second City, ID Biomedical issued warrants to acquire an aggregate of 1.2 million common shares of ID Biomedical with an exercise price of US$16.91 per share.
ID Biomedical was represented by Borden Ladner Gervais LLP with a team led by Ian Webb and including Warren Learmonth (securities) and Don Bird and Ken Andersen (lending) in Vancouver, and Pierre Côté (lending) and Catherine Guertin (real estate) in Montreal. Preston Gates & Ellis LLP acted as US counsel to ID Biomedical with a team that included Gary Kocher and Devin Stockfish in Seattle and Ellen Bachman in Portland.
Gordon, Feinblatt, Rothman, Hoffberger & Hollander, LLC was Maryland counsel to ID Biomedical with a team that included Abba Poliakoff and Stephanie Cohen. Warren Heilbonner of Sullivan & Worcester LLP acted as Massachusetts agent to ID Biomedical.
Second City was represented by Fraser Milner Casgrain LLP with a team led by Tim Bezeredi and including Colin Emslie (lending) and Blair Horn (securities) in Vancouver, and Neil Katz in Montreal; and in the US by Perkins Coie in Seattle with a team that included Scott Borth and Georges Yates.
ID Biomedical was represented by Borden Ladner Gervais LLP with a team led by Ian Webb and including Warren Learmonth (securities) and Don Bird and Ken Andersen (lending) in Vancouver, and Pierre Côté (lending) and Catherine Guertin (real estate) in Montreal. Preston Gates & Ellis LLP acted as US counsel to ID Biomedical with a team that included Gary Kocher and Devin Stockfish in Seattle and Ellen Bachman in Portland.
Gordon, Feinblatt, Rothman, Hoffberger & Hollander, LLC was Maryland counsel to ID Biomedical with a team that included Abba Poliakoff and Stephanie Cohen. Warren Heilbonner of Sullivan & Worcester LLP acted as Massachusetts agent to ID Biomedical.
Second City was represented by Fraser Milner Casgrain LLP with a team led by Tim Bezeredi and including Colin Emslie (lending) and Blair Horn (securities) in Vancouver, and Neil Katz in Montreal; and in the US by Perkins Coie in Seattle with a team that included Scott Borth and Georges Yates.
