Exhibit 99.1
FORM 51-102F3
Material Change Report
Item 1 | Name and Address of Company |
Aurinia Pharmaceuticals Inc. (the Company)
#1203-4464 Markham Street
Victoria, BC V8Z 7X8
Canada
Item 2 | Date of Material Change |
December 9, 2019
Item 3 | News Release |
News releases were issued and disseminated by the Company through Business News Wire on December 9, 2019 and December 12, 2019.
Item 4 | Summary of Material Change |
On December 9, 2019, the Company announced it had commenced a registered underwritten public offering of its common shares (the Offering). On December 9, 2019, the Company further announced the pricing of the Offering of 11,115,165 common shares at a public price of US$15.00 per share. The Company granted the Underwriters (defined below) an option exercisable, in whole or in part, in the sole discretion of the Underwriters, to purchase 1,667,274 additional shares, for a period of up to 30 days (the Option). The Option was exercised in full.
Jefferies LLC and SVB Leerink LLC acted as joint book-running managers for the Offering. H.C. Wainwright & Co. LLC, Oppenheimer & Co. Inc., and Bloom Burton Securities Inc. acted as co-managers for the Offering (collectively, the Underwriters).
Item 5 | Full Description of Material Change |
On December 9, 2019, the Company announced it had commenced the Offering. On December 9, 2019, the Company further announced the pricing of the Offering of 11,115,165 common shares at a public price of US$15.00 per share. The Company granted the Underwriters the Option exercisable, in whole or in part, in the sole discretion of the Underwriters, to purchase 1,667,274 additional shares, for a period of up to 30 days. The Option was exercised in full.
Jefferies LLC and SVB Leerink LLC acted as joint book-running managers for the Offering. H.C. Wainwright & Co. LLC, Oppenheimer & Co. Inc., and Bloom Burton Securities Inc. acted as co-managers for the Offering.
The Offering closed on December 12, 2019. The shares were sold at a public offering price of US$15.00 per share. The gross proceeds to the Company from this Offering were approximately US$191.7 million, before deducting underwriting discounts and commissions and other estimated offering expenses.
The Company intends to use the net proceeds of the Offering for pre-commercialization and launch activities, as well as working capital and general corporate purposes.
Item 5.2 | Disclosure of Restructuring Transactions |
Not applicable.
Item 6 | Reliance on subsection 7.1(2) of National Instrument 51-102 |
Not applicable.
Item 7 | Omitted Information |
No significant facts remain confidential in, and no information has been omitted from, this report.
Item 8 | Executive Officer |
For further information, please contact:
Mr. Michael R. Martin, Chief Operating Officer
250-708-4272
mmartin@auriniapharma.com
Item 9 | Date of Report |
December 17, 2019