By Sheri Kasprzak
New York, July 8 - Icron Technologies Inc. said it has arranged a private placement for C$3.6 million.
The offering includes 2 million units at C$1.80 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for the purchase of an additional share at C$2.25 each for 18 months.
MGI Securities Inc. is the placement agent in the offering, which is expected to close July 21.
The proceeds will be used for research and development and for working capital.
Based in Vancouver, B.C., Icron develops wired and wireless technologies for the universal serial bus. The technology is used in the aerospace, medical device, industrial automation and computer networking sectors.
| Issuer: | Icron Technologies Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3.6 million
|
| Units: | 2 million
|
| Price: | C$1.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$2.25
|
| Placement agent: | MGI Securities Inc.
|
| Pricing date: | July 7
|
| Settlement date: | July 21
|
| Stock price: | C$1.87 at close July 7
|
|
|
© 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.
