Deal offers units of one common share, one warrant at C$1.50 per unit
By Tali Rackner
Norfolk, Va., April 29 – Helix BioPharma Corp. said it raised C$4.7 million in gross proceeds from a private placement of units, according to a release.
The company sold units of one common share and one common share purchase warrant at C$1.50 per unit.
Each five-year warrant will be exercisable at C$1.98, a 1% discount to the April 28 closing share price of C$2.00.
“These additional funds will allow us to continue moving forward our various research and development initiatives and take the next steps to transform the company,” chief financial officer Frank Michalargias said in a news release.
Helix BioPharma is an Aurora, Ont., biopharmaceutical company developing products for the treatment of cancer and pre-cancerous conditions.
| Issuer: | Helix BioPharma Corp.
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| Issue: | Units of one common share and one common share purchase warrant
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| Amount: | C$4.7 million
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| Price: | C$1.50
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| Warrants: | One warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | C$1.98
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| Settlement date: | April 29
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| Stock symbol: | Toronto: HBP
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| Stock price: | C$2.00 at close April 28
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| Market capitalization: | C$165.14 million
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