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OpSens Announces Closing of $28.75 M Bought Deal Public Offering Including $3.75 M Over-Allotment Option Exercised in Full

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OpSens Announces Closing of $28.75 M Bought Deal Public Offering

Including $3.75 M Over-Allotment Option Exercised in Full


Quebec City, Canada, February 25, 2021 – OpSens Inc. (“OpSens” or the “Company”) (TSX:OPS) (OTCQX:OPSSF) announced today the closing of its previously announced bought deal public offering (the “Offering”) of common shares of the Company (the “Common Shares”), for total gross proceeds of approximately $28,750,000. The Company issued an aggregate of 15,972,222 Common Shares, at a price of $1.80 per Common Share, including 2,083,333 Common Shares issued pursuant to the exercise in full of the underwriters’ over-allotment option.

The Offering was conducted by a syndicate of underwriters led by Stifel GMP as sole bookrunner and lead underwriter, and including Paradigm Capital Inc., Raymond James Ltd., RBC Dominion Securities Inc., and M Partners Inc.

The Company intends to use the net proceeds of the Offering (i) to execute its commercialization and marketing strategy, (ii) to fund research and product development, (iii) to secure additional manufacturing capacity for its coronary artery stenosis products, its structural heart products, its fiber optic sensors and signal conditioners and, (iv) for general working capital purposes.

The Common Shares were offered by way of a short form prospectus dated February 19, 2021 and filed in all of the provinces of Canada pursuant to Regulation 44-101 respecting Short Form Prospectus Distributions (National Instrument 44-Short Form Prospectus Distributions outside of Québec) and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About OpSens Inc. ( www.OpSens.com or www.OpSensmedical.com )

OpSens focuses mainly on coronary artery stenosis measurement in interventional cardiology. The Company offers an advanced optical-based pressure guidewire that aims at improving the clinical outcome of patients with coronary artery disease. Its flagship product, the OptoWire, is a second-generation fiber optic pressure guidewire designed to provide the lowest drift in the industry and excellent lesions access. The OptoWire has been used in the diagnosis and treatment of over 100,000 patients in more than 30 countries. It is approved for sale in the United States, European Union, Japan, and Canada.

OpSens is also involved in industrial activities in developing, manufacturing, and installing innovative fiber optic sensing solutions for critical applications.

Cautionary Note Regarding Forward-Looking Information 

All statements, other than statements of historical fact, contained in this press release including, but not limited to those relating to the expected use of proceeds and generally, the above “About OpSens Inc.” paragraph, which essentially describes the Company’s outlook, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that these assumptions will prove to be correct and there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Further information regarding the Company is available in the SEDAR database (www.sedar.com) and on the Company’s website at: www.opsens.com

For further information:

Louis Laflamme, CPA, CA, Chief Executive Officer, 418.781.0333

Robin Villeneuve, CPA, CA Chief Financial Officer, 418.781.0333