By Jennifer Chiou
New York, June 20 - Isotechnika Inc. said it has priced a C$15.750 million stock sale.
The company has agreed to issue 7 million common shares at C$2.25 each with a greenshoe for an additional 2.5 million shares or C$5.625 million, which would lift the total to up to C$21.375 million.
Proceeds will be used to fund Phase III trials for psoriasis, a Phase IIb trial for transplantation and for general corporate purposes.
GMP Securities leads a syndicate of underwriters, including Canaccord Capital Corp., National Bank Financial Inc. and TD Securities Inc.
Isotechnika Inc., an international biopharmaceutical company, has headquarters in Edmonton, Alta.
| Issuer: | Isotechnika Inc.
|
| Issue: | Common stock
|
| Amount: | C$15.750 million
|
| Shares: | 7 million
|
| Price: | C$2.25
|
| Warrants: | No
|
| Underwriters: | GMP Securities Ltd. lead, including Canaccord Capital Corp.
|
| Underwriters' option: | $5.625 million or 2.5 million shares
|
| Announcement date: | June 20
|
| Settlement date: | July 12
|
| Stock price: | C$2.53 at close June 17
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
