- ARLZ confirms purchase of 500k shares worth about $1.23 mln
MISSISSAUGA, Ontario , March 20, 2017 /CNW/ -- Aralez Pharmaceuticals Inc. (ARLZ) (ARZ.TO) (Aralez or the Company) today announced that Adrian Adams, the Chief Executive Officer of the Company, acquired an additional 500,000 shares of the Company's common stock on March 15, 2017 in open-market purchases.
The shares were purchased at an average price of $2.46 per share, for an aggregate purchase price of approximately $1,230,000 . Following this transaction, Mr. Adams owns 3,569,230 shares (including 1,541,562 restricted stock units subject to vesting) of the Company's common stock, of which 1,500,000 were purchased by Mr. Adams on the open market and the remainder were granted to Mr. Adams under the Company's equity incentive plan. In addition, Mr. Adams holds 105,251 options to acquire shares of Company common stock. The acquisition was disclosed in a Form 4 filing and a SEDI filing, which are accessible on the U.S. Securities and Exchange Commission's (SEC's) website at www.sec.gov and www.sedi.ca, respectively.
In addition to Mr. Adams, members of Aralez's Board of Directors and executive management team recently acquired approximately 90,000 shares of the Company's common stock in open market purchases.
About Aralez Pharmaceuticals Inc.
Aralez Pharmaceuticals Inc. (NASDAQ: ARLZ and TSX: ARZ) is a global specialty pharmaceutical company focused on delivering meaningful products to improve patients' lives while creating shareholder value by acquiring, developing and commercializing products primarily in cardiovascular, pain and other specialty areas. Aralez's Global Headquarters is in Mississauga, Ontario, Canada , its U.S. Headquarters is in Princeton, New Jersey and the Ireland Headquarters is in Dublin, Ireland . More information about Aralez can be found at www.aralez.com.
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