Company sells 4,860,244 common shares at C$0.33 per share in offering
By Devika Patel
Knoxville, Tenn., March 5 - Immunovaccine Inc. said it completed a C$1.6 million private placement of stock. The deal priced for C$2 million on Feb. 6 and was to consist of units instead of stock. The company revised the terms on Feb. 27.
The company sold 4,860,244 common shares at C$0.33 per share, which is an 8.33% discount to the company's C$0.36 closing share price on Feb. 5.
The proceeds will be used to fund preclinical research and development efforts in the areas of infectious diseases and for general corporate and working capital purposes.
Immunovaccine is a clinical-stage vaccine company based in Halifax, N.S.
| Issuer: | Immunovaccine Inc.
|
| Issue: | Common stock
|
| Amount: | C$1,603,881
|
| Shares: | 4,860,244
|
| Price: | C$0.33
|
| Warrants: | No
|
| Pricing date: | Feb. 6
|
| Revised: | Feb. 27
|
| Settlement date: | March 5
|
| Stock symbol: | TSX Venture: IMV
|
| Stock price: | C$0.36 at close Feb. 5
|
| Market capitalization: | C$19.05 million
|
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