By Laura Lutz
Des Moines, July 5 - Luxell Technologies Inc. announced the full exercise of the greenshoe in its previously announced private placement of shares, increasing the total deal size to C$1.2 million.
The company closed the first tranche of the offering on June 29 for C$728,400. The second tranche is expected to close on July 9.
In total, the company plans to sell 10 million common shares at C$0.12 each.
Kingsmill Capital Partners Inc. is the agent.
Kingsmill also has right of first refusal to facilitate a larger financing for up to C$5 million in the next fiscal year.
Proceeds will be used for working capital.
Luxell is a Toronto-based manufacturer of flat panel displays.
| Issuer: | Luxell Technologies Inc.
|
| Issue: | Shares
|
| Amount: | C$1.2 million (includes greenshoe for C$200,000)
|
| Price: | C$0.12
|
| Warrants: | No
|
| Agent: | Kingsmill Capital Partners Inc.
|
| Pricing date: | June 5
|
| Upsized: | July 5
|
| Settlement date: | June 29 (for C$728,400); July 9 (for C$471,600)
|
| Stock symbol: | Toronto: LUX
|
| Stock price: | C$0.11 at close June 5
|
| Stock price: | C$0.125 at close July 5
|
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