Equity sold as common shares, five-year warrants, at $2.39 per unit
By Devika Patel
Knoxville, Tenn., March 28 - Helix BioPharma Corp. said it has accepted subscriptions for a C$3.95 million private placement of units, which is expected to settle Monday.
The company will sell 1,652,719 units of one common share and one warrant at C$2.39 apiece. Each warrant will be exercisable at C$3.35 for five years. The strike price represents a 3.08% premium to the closing share price of C$3.25 on March 25.
Jack Kay, a director of the company, and his wife are acquiring 209,205 units and a related party, the Kay Family Charitable Foundation, of which Mr. Kay is a trustee, is acquiring an additional 209,205 units.
Proceeds will be used for working capital, primarily to support the company's drug development programs.
Helix BioPharma is an Aurora, Ont., biopharmaceutical company developing products for the treatment of cancer and pre-cancerous conditions.
| Issuer: | Helix BioPharma Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3,949,998
|
| Units: | 1,652,719
|
| Price: | C$2.39
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$3.35
|
| Investors: | Jack Kay and his wife for 209,205 units and Kay Family Charitable Foundation for 209,205 units
|
| Settlement date: | March 28
|
| Stock symbol: | Toronto: HBP
|
| Stock price: | C$3.25 at close March 25
|
| Market capitalization: | C$209.65 million
|
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