Each unit consists of 50,000 common shares, 50,000 warrants
By Angela McDaniels
Tacoma, Wash., Aug. 19 - Natcore Technology Inc. increased the size of its private placement to $3.1 million. It will now sell 124 units for $25,000 each.
Each unit consists of 50,000 common shares and 50,000 warrants.
Each warrant is exercisable at $0.62 for three years. The strike price is a 1.42% discount to $0.6289, the company's share price on the day prior to pricing.
The company expects to have an initial closing on Aug. 21 and the final closing on Aug. 23.
Proceeds will be used for further development of the company's technologies and general working capital.
Based in Red Bank, N.J., Natcore Technology controls a process for thin film growth with applications in solar energy, semiconductors, fiber optics and other industries.
| Issuer: | Natcore Technology Inc.
|
| Issue: | Units of 50,000 common shares and 50,000 warrants
|
| Amount: | C$3.1 million
|
| Units: | 124
|
| Price: | $25,000
|
| Warrants: | 50,000 per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.62
|
| Pricing date: | Aug. 9
|
| Upsized: | Aug. 19
|
| Settlement date: | Aug. 21 for initial closing; Aug. 23 for final closing
|
| Stock symbol: | Pink Sheets: NTCXF
|
| Stock price: | $0.6289 at close Aug. 8
|
| Market capitalization: | $21.85 million
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