Deal sells three-year unsecured debentures to fund business expansion
By Devika Patel
Knoxville, Tenn., Aug. 11 – Imaging Dynamics Co. Ltd. said it will conduct a C$6.25 million non-brokered private placement of convertible unsecured debentures.
The 6% convertibles mature in three years and convert to common stock at C$0.02 per share, which is identical to the Aug. 10 closing share price.
Settlement is expected Sept. 10.
Proceeds will be used to expand the company’s business in the China market.
Based in Calgary, Alta., Imaging Dynamics is a medical imaging technology provider.
| Issuer: | Imaging Dynamics Co. Ltd.
|
| Issue: | Convertible unsecured debentures
|
| Amount: | C$6.25 million
|
| Maturity: | Three years
|
| Coupon: | 6%
|
| Conversion price: | C$0.02 per share
|
| Warrants: | No
|
| Agents: | Non-brokered
|
| Pricing date: | Aug. 11
|
| Settlement date: | Sept. 10
|
| Stock symbol: | TSX Venture: IDL
|
| Stock price: | C$0.02 at close Aug. 10
|
| Market capitalization: | C$5.89 million
|
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