Capital pool company offers 45,535,195 receipts at C$0.90 apiece
By Devika Patel
Knoxville, Tenn., Aug. 4 - Denovo Capital Corp. said it raised C$40.98 million in a non-brokered private placement of subscription receipts.
The company sold 45,535,195 receipts at C$0.90 apiece, which is a 157.14% premium to the Aug. 3 closing share price of C$0.35.
Each receipt will convert into a unit of one common share and one warrant, with each warrant exercisable at C$1.50 for two years. The strike price is a 328.57% premium to the Aug. 3 closing price.
The capital pool company is based in Vancouver, B.C.
| Issuer: | Denovo Capital Corp.
|
| Issue: | Subscription receipts
|
| Amount: | C$40,981,676
|
| Receipts: | 45,535,195
|
| Price: | C$0.90
|
| Warrants: | One per unit upon conversion
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.50
|
| Agent: | Non-brokered
|
| Settlement date: | Aug. 4
|
| Stock symbol: | TSX Venture: DVO.P
|
| Stock price: | C$0.35 at close Aug. 3
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
