By Laura Lutz
Des Moines, Sept. 26 - Ipico Inc. arranged a C$5 million private placement of units.
The company agreed to sell 4,348,000 units of one share and one half-share warrant at C$1.15 per unit. Each whole warrant will be exercisable at C$1.30 for one year.
Wellington West Capital Markets will lead an underwriting syndicate that also includes Desjardins Securities Inc.
The underwriters have a greenshoe for up to 2,608,700 units, for additional proceeds of up to C$3,000,005.
Settlement is expected on Oct. 10.
Proceeds will be used for working capital and general corporate purposes.
Based in Burlington, Ont., Ipico supplies technologies for radio-frequency identification.
| Issuer: | Ipico Inc
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5,000,200
|
| Units: | 4,348,000
|
| Greenshoe: | 2,608,700
|
| Price: | C$1.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.30
|
| Underwriters: | Wellington West Capital Markets (lead), Desjardins Securities Inc.
|
| Pricing date: | Sept. 26
|
| Settlement date: | Oct. 10
|
| Stock symbol: | TSX Venture: RFD
|
| Stock price: | C$1.15 at close Sept. 26
|
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