Proceeds earmarked for working capital and general corporate purposes
By Devika Patel
Knoxville, Tenn., Feb. 21 - Dehaier Medical Systems Ltd. said it will conduct a $6.73 million registered direct offering of shares.
The company will sell 737,700 common shares at $9.12 per share. The price per share represents a 23.68% discount to the Feb. 20 closing share price of $11.95.
Investors also will receive warrants for 220,410 common shares. The warrants are exercisable at $11.86 for 42 months. The strike price reflects a 0.75% discount to the Feb. 20 closing share price.
FT Global Capital, Inc. is the agent.
Settlement is expected on Feb. 26.
Proceeds will be used for working capital and other general corporate purposes.
Beijing-based Dehaier manufactures medical products.
| Issuer: | Dehaier Medical Systems Ltd.
|
| Issue: | Common shares
|
| Amount: | $6,727,824
|
| Shares: | 737,700
|
| Price: | $9.12
|
| Warrants: | For 220,410 shares
|
| Warrant expiration: | 42 months
|
| Warrant strike price: | $11.86
|
| Agents: | FT Global Capital, Inc.
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 26
|
| Stock symbol: | Nasdaq: DHRM
|
| Stock price: | $11.95 at close Feb. 20
|
| Market capitalization: | $47.11 million
|
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