By Sheri Kasprzak
New York, Jan. 12 - Imaging Dynamics Co. said it intends to raise C$10 million in a private placement of special warrants.
The offering includes 2,857,143 special warrants at C$3.50 each.
The special warrants are exchangeable for one common share once Imaging Dynamics files a short-form prospectus covering the underlying shares.
A syndicate of underwriters led by Paradigm Capital Inc. and including Sprott Securities Inc. and Versant Partners Inc. has an over-allotment option for up to 1,428,572 special warrants.
The deal is expected to close on Jan. 31.
Proceeds will be used for the expansion of the company's sales and marketing initiatives into the United States. The rest will be used for new product development and working capital.
Based in Toronto, Imaging Dynamics develops cassette-based computed radiography systems.
| Issuer: | Imaging Dynamics Co.
|
| Issue: | Special warrants exchangeable for common shares
|
| Amount: | C$10 million
|
| Special warrants: | 2,857,143
|
| Greenshoe: | For up to 1,428,572 special warrants
|
| Price: | C$3.50
|
| Warrants: | No
|
| Underwriters: | Paradigm Capital Inc. (lead); Sprott Securities Inc.; Versant Partners Inc.
|
| Pricing date: | Jan. 12
|
| Settlement date: | Jan. 31
|
| Stock symbol: | TSX Venture: IDL
|
| Stock price: | C$3.60 at close Jan. 11
|
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