Deal sells 14.55 million units of one share and a half-share warrant
By Devika Patel
Knoxville, Tenn., June 20 – Antibe Therapeutics Inc. said it completed a C$1.46 million non-brokered private placement of units. The deal raised C$968,500 on June 10.
The company sold 14.55 million units of one common share and a half-share warrant at C$0.10 per unit. It sold 9,685,000 units in the first tranche and 4,865,000 million units in the second.
Each whole warrant is exercisable at C$0.15 for two years, with the first-tranche warrants expiring on June 10, 2018 and the second-tranche warrants expiring June 20, 2018. The warrant strike price is a 15.39% discount to the June 9 closing share price of C$0.13.
The pharmaceutical company is based in Toronto.
| Issuer: | Antibe Therapeutics Inc.
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| Issue: | Units of one common share and a half-share warrant
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| Amount: | C$1,455,000
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| Units: | 14.55 million
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| Price: | C$0.10
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | June 10, 2018, June 20, 2018
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| Warrant strike price: | C$0.15
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| Agent: | Non-brokered
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| Settlement dates: | June 10 (for C$968,500), June 20 (for C$486,500)
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| Stock symbol: | TSX Venture: ATE
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| Stock price: | C$0.13 at close June 9
|
| Market capitalization: | C$11.04 million
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