By Laura Lutz
Des Moines, April 24 - Isee3D Inc. plans to conduct a private placement of units for C$1.5 million, up from C$1.3 million when the deal was announced on April 16.
The company said it increased the deal size because of interest received.
The placement will consist of 5 million units of one share and one warrant at C$0.30 per unit. Each warrant will be exercisable at C$0.50 for 18 months.
Expiry of the warrants will be accelerated to 15 days if the closing price of the company's shares is above C$0.50 for 15 consecutive trading days.
Proceeds will be used for working capital, the commercialization of the company's existing patents and the implementation of a new business model.
The company expects the placement to settle at the same time it receives approval of its proposed reactivation from the TSX Venture Exchange.
Isee3D is a video technology company based in Montreal.
| Issuer: | Isee3D Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 5 million
|
| Price: | C$0.30
|
| Warrants: | One per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
| Pricing date: | April 24
|
| Stock symbol: | TSX Venture: ICT.H
|
| Stock price: | C$0.35 at close April 24
|
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