By Devika Patel
Knoxville, Tenn., Sept. 22 - Medicago Inc. said it will conduct a C$15.98 million private placement of units with Philip Morris International.
The company will sell 45 million units of one common share and one warrant at C$0.355 apiece. Each two-year warrant will be exercisable at C$0.375 for the first year and at C$0.405 thereafter.
Proceeds will be used to fund the development of Medicago's pandemic and seasonal influenza vaccines.
Medicago is a biotechnology company based in Quebec City.
| Issuer: | Medicago Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$15,975,000
|
| Units: | 45 million
|
| Price: | C$0.355
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.375 in the first year, C$0.405 thereafter
|
| Investor: | Philip Morris International
|
| Pricing date: | Sept. 22
|
| Stock symbol: | TSX Venture: MDG
|
| Stock price: | C$0.30 at close Sept. 22
|
© 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.
