By Susanna Moon
Chicago, July 12 - Immersive Media Corp. said it closed a C$20 million private placement of shares, including a greenshoe exercise of 1.023 million shares.
In total, the company sold 4.116 million shares at C$4.85.
The deal was priced on June 25 at C$15 million for 3.093 million shares at C$4.85 each.
Underwriters also received warrants for 123,480 shares exercisable at the offering price until July 12, 2009.
Proceeds will be used for working capital.
The underwriting syndicate for the private placement was led by Cormark Securities Inc. and included Haywood Securities Inc., Westwind Partners Inc., Canaccord Capital Corp. and Wolverton Securities Ltd.
Immersive is a digital-video imaging company based in Toronto.
| Issuer: | Immersive Media Corp.
|
| Issue: | Shares
|
| Amount: | C$20 million (including 1.023 million greenshoe)
|
| Shares: | 4.116 million
|
| Greenshoe: | For up to 1.031 million shares
|
| Price: | C$4.85
|
| Underwriter: | Cormark Securities Inc. (lead), Haywood Securities Inc., Westwind Partners Inc., Canaccord Capital Corp. and Wolverton Securities Ltd.
|
| Pricing date: | June 25
|
| Settlement date: | July 12
|
| Stock symbol: | TSX Venture: IMC
|
| Stock price: | C$5.11 at close June 22
|
| Stock price: | C$4.50 at close July 11
|
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