Subscription receipts converted into units of one share and warrant
By Devika Patel
Knoxville, Tenn., Oct. 7 - iseemedia Inc. said it completed a private placement of subscription receipts. The deal priced for C$7 million on July 20.
The company sold subscription receipts at C$0.09 apiece for C$3 million. The price per receipt is a 25% discount to C$0.12, the July 19 closing share price.
Each subscription receipt was converted into a unit of one common share and one warrant. Each warrant is exercisable at C$0.12 for three years. The strike price is identical to the July 19 closing share price.
iseemedia is a software developer based in Toronto.
| Issuer: | iseemedia Inc.
|
| Issue: | Subscription receipts
|
| Amount: | C$7 million
|
| Price: | C$0.09
|
| Warrants: | One warrant per unit upon conversion
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.12
|
| Pricing date: | July 20
|
| Settlement date: | Oct. 7
|
| Stock symbol: | TSX Venture: IEE
|
| Stock price: | C$0.12 at close July 19
|
| Market capitalization: | C$5.07 million
|
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