By Devika Patel
Knoxville, Tenn., Feb. 17 - Novadaq Technologies, Inc. said it arranged a $5 million non-brokered private placement of 5% senior unsecured convertible debentures with Fairfax Financial Holdings Ltd.
The notes mature in five years and are convertible into common shares at C$2.33 per share.
Proceeds will be used to fund ongoing sales and marketing expenses, product research and development efforts and for general corporate purposes.
Toronto-based Novadaq develops medical imaging systems and real-time image-guided therapies.
| Issuer: | Novadaq Technologies, Inc.
|
| Issue: | Senior unsecured convertible debentures
|
| Amount: | $5 million
|
| Maturity: | Five years
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5%
|
| Conversion price: | C$2.33
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Fairfax Financial Holdings Ltd.
|
| Pricing date: | Feb. 17
|
| Stock symbol: | Toronto: NDQ
|
| Stock price: | C$2.75 at close Feb. 13
|
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