Versant Ventures Files Early Warning Report in Respect of Repare Therapeutics Inc.
VANCOUVER, British Columbia & MONTREAL--(BUSINESS WIRE)--Versant Ventures today announced the filing of an early warning report with respect to the ownership of securities in Repare Therapeutics Inc. (the “Company”) by Versant Venture Capital VI, L.P., Versant Vantage I, L.P., Versant Venture Capital V, L.P., Versant Venture Capital V (Canada) LP, Versant Ophthalmic Affiliates Fund I, L.P. and Versant Affiliates Fund V, L.P. (collectively, the “Versant Funds”).
On December 15, 2020 and January 14, 2021, the Versant Funds distributed an aggregate of 825,000 Common Shares of the Company (the “Common Shares”) pursuant to the Versant Funds’ automatic securities disposition plans (the “ASDPs”). The 825,000 Common Shares are referred to as the “Distributed Shares”.
The Versant Funds previously adopted the ASDPs to facilitate the distribution of Common Shares to the partners of the Versant Funds in the quantities and based on the closing price triggers specified in the ASDPs, and for no additional consideration.
Immediately prior to the disposition of the Distributed Shares, the Versant Funds had beneficial ownership of, and control or direction over, 7,237,679 Common Shares of the Company, representing approximately 19.69% of the outstanding Common Shares. The 825,000 Distributed Shares represent approximately 2.24% of the outstanding Common Shares.
Immediately following the disposition of the Distributed Shares, the Versant Funds have beneficial ownership of, and control or direction over, 6,412,679 Common Shares of the Company, representing approximately 17.44% of the outstanding Common Shares.
The Distributed Shares were distributed to the partners of the Versant Funds for no additional consideration. The Distributed Shares were disposed of pursuant to ordinary course transactions effected through a broker-dealer utilizing specific pricing instructions by means of customary Rule 10b5-1 programs furthering the Versant Funds’ investment objectives, and in the future, the Versant Funds may discuss with management and/or the board of directors of the Company business transactions and other opportunities and may further purchase, hold, vote, trade, dispose or otherwise deal in the securities of the Company, in such manner as they deem advisable, depending on market and other conditions.
The Versant Funds reserve the right, based on all relevant factors and subject to applicable law or other restrictions, at any time and from time to time, to acquire additional Common Shares or other securities of the Company, dispose of some or all of the Common Shares or other securities of the Company that it may own from time to time, in each case in open market or private transactions, block sales or otherwise or pursuant to ordinary stock exchange transactions effected through one or more broker-dealers whether individually or utilizing specific pricing or other instructions (including by means of customary Rule 10b5-1 programs), and review or reconsider their position, change their purpose, take other actions or formulate and implement plans or proposals with respect to any of the foregoing.
The Versant Funds intend to review their investment in the Company from time to time on the basis of various factors, including the Company’s business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in general and those for the Company’s stock in particular, as well as other developments.
An early warning report will be filed by the Versant Funds in accordance with applicable securities laws and will be available on SEDAR under the Company’s profile at www.sedar.com or may be obtained directly from the Versant Funds upon request at the telephone number below. The Company’s head and registered office is located at 7210 Frederick-Banting, Suite 100, Montréal, Québec H4S 2A1. The address of each of the Versant Funds is One Sansome Street, Suite 3630, San Francisco, CA 94104. Each of the Versant Funds are organized under the laws of Delaware with the exception of Versant Venture Capital V (Canada) LP which is organized under the laws of Ontario, Canada. The principal business of the Versant Funds involves the investment in biotechnology companies.
Steve Edelson, Vice President, Investor Relations and Communications