By Devika Patel
Knoxville, Tenn., Oct. 30 - iCo Therapeutics Inc. said it took in C$2.88 million in the first tranche of a C$4 million private placement of stock. The deal priced Oct. 21.
Loewen, Ondaatje, McCutcheon Ltd, and Versant Partners Inc. are the agents.
The company is selling 8,333,333 common shares at C$0.48 per share on a best-efforts basis. It sold 6 million shares in the first tranche.
Proceeds will be used for working capital and general corporate purposes.
Based in Vancouver, B.C., iCo Therapeutics is a development-stage specialty pharmaceutical company focused on the reprofiling and repositioning of drugs and drug candidates with a clinical history for new disease indications.
| Issuer: | iCo Therapeutics Inc.
|
| Issue: | Common stock
|
| Amount: | C$4 million
|
| Shares: | 8,333,333
|
| Price: | C$0.48
|
| Warrants: | No
|
| Agents: | Loewen, Ondaatje, McCutcheon Ltd, and Versant Partners Inc.
|
| Pricing date: | Oct. 21
|
| Settlement date: | Oct. 30 (for C$2.88 million)
|
| Stock symbol: | TSX Venture: ICO
|
| Stock price: | C$0.58 at close Oct. 20
|
| Market capitalization: | C$15.9 million
|
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