By Sheri Kasprzak
Atlanta, March 1 - Imaging Dynamics Co. Ltd. said it will raise C$8.8 million in a private placement of stock.
The deal includes 4 million shares at C$2.20 each.
A syndicate of underwriters co-led by Sprott Securities Inc., Dlouhy Merchant Group Inc. and Paradigm Capital Inc. will place the deal.
The private placement is expected to close March 16.
Based in Calgary, Alta., Imaging Dynamics manufactures and markets digital radiography technology. It plans to use the proceeds from the offering for expansion into China, India and other emerging market countries. It also plans to conduct preliminary research into alternative financing methods. The remainder will be used for working capital.
| Issuer: | Imaging Dynamics Co. Ltd.
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| Issue: | Stock
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| Amount: | C$8.8 million
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| Shares: | 4 million
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| Price: | C$2.20
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| Warrants: | No
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| Underwriters: | Sprott Securities Inc., Dlouhy Merchant Group Inc. and Paradigm Capital Inc.
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| Pricing date: | March 1
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| Settlement date: | March 16
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| Stock price: | C$2.05 at close Feb. 28
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