By Devika Patel
Knoxville, Tenn., Aug. 8 - Nevoro Inc. said it completed the second tranche of a C$10 million private placement of units for C$2.34 million.
The deal was announced in April as a private placement of escrow receipts, then was revised in May to include units. The company settled the first tranche for C$7.01 million on June 12.
Nevoro sold 20,015,500 units in the first tranche and 6,675,714 units in this one.
The company plans to sell a total of 28,571,428 units at C$0.35 per unit.
Each unit will be comprised of one common share and a one half-share warrant. Each whole warrant will be exercisable at C$0.50 for two years.
The syndicate of agents, led by Thomas Weisel Partners Canada Inc., will have the option to sell up to an additional 22,849,999 units for C$8 million.
Proceeds will be used for exploration and general corporate purposes.
Nevoro is a precious metals exploration company based in Toronto.
| Issuer: | Nevoro Inc.
|
| Issue: | Units of one common share and a one half-share warrant
|
| Amount: | C$9,999,999.80
|
| Greenshoe: | C$7,997,499.65, or 22,849,999 units
|
| Units: | 28,571,428
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agents: | Thomas Weisel Partners Canada Inc. (lead)
|
| Announcement date: | April 28
|
| Pricing date: | May 28
|
| Settlement date: | June 12 (for C$7,005,425), Aug. 8 (for C$2,336,499.90)
|
| Stock symbol: | Toronto: | NVR
|
| Stock price: | C$0.46 at close May 28
|
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