By Sheri Kasprzak
New York, Jan. 31 - Imaging Dynamics Co. said it concluded its previously announced private placement with a fully exercised over-allotment option for C$15,000,002.
The company issued 4,285,715 special warrants at C$3.50 each, including a greenshoe for 1,428,572 special warrants exercised by a syndicate of underwriters led by Paradigm Capital Inc.
The special warrants are exchangeable for one common share once Imaging Dynamics files a short-form prospectus covering the underlying shares.
The offering was priced as a C$10 million deal on Jan. 12.
The syndicate includes Sprott Securities Inc. and Versant Partners Inc.
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$15,000,002
|
| Special warrants: | 4,285,715 (includes greenshoe for 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: IDL
|
| Stock price: | C$3.60 at close Jan. 12
|
| Stock price: | C$5.00 at close Jan. 31
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