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TORONTO, June 16, 2026 /CNW/ - Apotex Health Corp. ("Apotex" or the "Company") today announced that it has closed its upsized initial public offering of 62,291,670 common shares of the Company (the "Common Shares") at a price of $24.00 per Common Share (the "Offering Price"), for gross proceeds of $1,495,000,080 (the "Offering").
The Offering consisted of a treasury offering by Apotex of 35,416,666 Common Shares at the Offering Price, for gross proceeds of $849,999,984 to Apotex, and a secondary offering by SK Capital Partners and certain other shareholders of the Company (the "Selling Shareholders") of 26,875,004 Common Shares at the Offering Price, for gross proceeds of $645,000,096 to the Selling Shareholders (the "Secondary Offering"). The Secondary Offering includes 8,125,000 Common Shares sold to the underwriters upon exercise of their option to acquire additional Common Shares at the Offering Price (the "Over-Allotment Option"), which was exercised in full. The Company did not receive any of the proceeds from the sale of Common Shares pursuant to the exercise of the Over-Allotment Option.
The Offering was made through a syndicate of underwriters led by RBC Capital Markets, TD Securities Inc., and Scotiabank, as co-lead managers, joint global coordinators and joint lead bookrunners, BMO Capital Markets and Jefferies Securities, Inc., as joint bookrunners, and CIBC Capital Markets, ATB Cormark Capital Markets, Desjardins Capital Markets, National Bank Capital Markets, MUFG, Raymond James, Bloom Burton Securities Inc., Canaccord Genuity Corp., Stifel and Paradigm Capital Inc., as co-managers.
Goodmans LLP acted as Canadian legal counsel to Apotex and Stikeman Elliott LLP acted as Canadian legal counsel to the underwriters. Kirkland & Ellis LLP acted as US legal counsel to Apotex and Skadden, Arps, Slate, Meagher & Flom LLP acted as US legal counsel to the underwriters.
The Common Shares are listed on the Toronto Stock Exchange under the symbol "APTX".
The Offering was completed pursuant to Apotex's supplemented PREP prospectus dated June 10, 2026 (the "Supplemented Prospectus") filed with the securities regulatory authorities in each of the provinces and territories of Canada, a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.com.
No securities regulatory authority has either approved or disapproved the contents of this news release. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. Accordingly, the securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Apotex in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Apotex
Apotex is a Canadian-based global health company. We improve everyday access to affordable, innovative medicines and health products for millions of people around the world, with a broad portfolio of generic, biosimilar, and innovative branded pharmaceuticals, and consumer health products. Headquartered in Toronto, with regional offices globally, including in the United States, Mexico, and India, we are the largest Canadian-based pharmaceutical company and a health partner of choice for the Americas for pharmaceutical licensing and product acquisitions.
Early Warning Disclosure
SK Capital Partners
Immediately prior to the closing of the Offering, SK Artemis Holdings II, LLC ("SK Holdings"), a fund managed by SK Capital Partners, owned 145,316,100 Common Shares, representing approximately 75.3% of the then issued and outstanding Common Shares. In connection with the Offering, SK Holdings sold 25,672,586 Common Shares in the Secondary Offering at the Offering Price for aggregate gross proceeds of approximately $616 million. Immediately following completion of the Offering, SK Holdings owns 119,643,514 Common Shares, representing approximately 52.4% of the issued and outstanding Common Shares on a non-diluted basis.
SK Holdings holds its Common Shares for investment purposes. Depending on various factors, including, without limitation, market conditions, general economic and industry conditions, and the Company's business and financial condition, SK Holdings may take such actions with respect to its investment in the Company as it deems appropriate, including, without limitation, acquiring additional securities of the Company, or selling or otherwise disposing of securities of the Company from time to time, in each case subject to applicable laws and the terms of the SK Investor Rights Agreement, the Registration Rights Agreement and a lock-up agreement in favour of the underwriters, each as described in the Supplemented Prospectus.
For further information, including a copy of the corresponding early warning report to be filed by SK Holdings with the applicable Canadian securities regulatory authorities, please visit www.sedarplus.ca or contact SK Holdings at 430 Park Avenue, 18th Floor, New York, New York, 10022, United States, Attention: Taylor Thompson, Email: tthompson@skcapitalpartners.com.
Sherfam
Immediately prior to the closing of the Offering, API Investment LP ("Sherfam") owned 32,414,910 Common Shares, representing approximately 16.8% of the then issued and outstanding Common Shares. Immediately following completion of the Offering, Sherfam owns 32,414,910 Common Shares, representing approximately 14.2% of the issued and outstanding Common Shares on a non-diluted basis.
Sherfam holds its Common Shares for investment purposes. Depending on various factors, including, without limitation, market conditions, general economic and industry conditions, and the Company's business and financial condition, Sherfam may take such actions with respect to its investment in the Company as it deems appropriate, including, without limitation, acquiring additional securities of the Company, or selling or otherwise disposing of securities of the Company from time to time, in each case subject to applicable laws and the terms of the Registration Rights Agreement and a lock-up agreement in favour of the underwriters, each as described in the Supplemented Prospectus.
For further information, including a copy of the corresponding early warning report to be filed by Sherfam with the applicable Canadian securities regulatory authorities, please visit www.sedarplus.ca or contact Sherfam at 302-10 Director Court, Woodbridge, Ontario, L4L 7E8, Attention: Sheron Khan, Email: info@sherfam.com.
Forward-Looking Statements
This press release may contain forward-looking information within the meaning of applicable securities laws, including statements regarding SK Holdings' and Sherfam's intentions with respect to their investment in Apotex, the business and prospects of Apotex and market conditions. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, factors discussed under "Risk Factors" in the Supplemented Prospectus. Apotex undertakes no obligation to publicly update or review any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
SOURCE Apotex Inc.
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