Deal sells two-year debentures to fund geographic, product expansion
By Devika Patel
Knoxville, Tenn., Aug. 11 – Imaging Dynamics Co. Ltd. said it will conduct a C$6 million non-brokered private placement of convertible secured debentures.
The 6% convertibles mature in two years and convert to common stock at C$0.11 per share, which is identical to the Aug. 10 closing share price.
Settlement is expected Aug. 31.
Proceeds will be used for geographic and product expansion and working capital purposes.
Based in Calgary, Alta., Imaging Dynamics is a medical imaging technology provider.
| Issuer: | Imaging Dynamics Co. Ltd.
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| Issue: | Convertible secured debentures
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| Amount: | C$6 million
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| Maturity: | Two years
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| Coupon: | 6%
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| Conversion price: | C$0.11
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| Warrants: | No
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| Agents: | Non-brokered
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| Pricing date: | Aug. 11
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| Settlement date: | Aug. 31
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| Stock symbol: | TSX Venture: IDL
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| Stock price: | C$0.11 at close Aug. 10
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| Market capitalization: | C$6.47 million
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