Non-brokered offering is selling common shares at C$0.60 per share
By Devika Patel
Knoxville, Tenn., April 7 - Antibe Therapeutics Inc. said it raised C$911,760 in the second tranche of its C$5 million non-brokered private placement of stock. The deal priced on March 21 and was increased from C$3 million on March 28. The offering raised C$3.02 million on March 31.
The company is selling common shares at C$0.60 apiece, which is an 18.92% discount to the March 20 closing share price of C$0.74. It sold 5,025,664 shares in the first tranche and 1,519,600 shares in the second.
Proceeds will be used for product development and general corporate purposes.
The pharmaceutical company is based in Toronto.
| Issuer: | Antibe Therapeutics Inc.
|
| Issue: | Common stock
|
| Amount: | C$5 million
|
| Price: | C$0.60
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | March 21
|
| Upsized: | March 28
|
| Settlement dates: | March 31 (for C$3,015,398), April 7 (for C$911,760)
|
| Stock symbol: | TSX Venture: ATE
|
| Stock price: | C$0.74 at close March 20
|
| Market capitalization: | C$18.84 million
|
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