Drug-development company sells 397,482 units for $2.75 each
By Devika Patel
Knoxville, Tenn., Nov. 22 - Anavex Life Sciences Corp. conducted a private placement of units, according to an 8-K filed Monday with the Securities and Exchange Commission. The deal raised $1.09 million on Nov. 18.
The company sold 397,482 units of one common share and one half-share warrant at $2.75 per unit.
Each whole warrant is exercisable at $4.50 for 18 months. The strike price reflects an 8.43% premium to the Nov. 17 closing share price of $4.15.
Based in Geneva, Anavex is focused on developing and marketing drug targets for the treatment of cancer and diseases of the central nervous system.
| Issuer: | Anavex Life Sciences Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $1,093,075
|
| Units: | 397,482
|
| Price: | $2.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | $4.50
|
| Settlement date: | Nov. 18
|
| Stock symbol: | OTCBB: AVLX
|
| Stock price: | $4.12 at close Nov. 18
|
| Market capitalization: | $90.7 million
|
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