By Devika Patel
Knoxville, Tenn., Feb. 18 - Novadaq Technologies, Inc. said it settled a $5.15 million non-brokered private placement of senior unsecured convertible debentures. The deal priced for $5 million on Tuesday.
Fairfax Financial Holdings Ltd. bought $5 million of the debentures and company insiders bought the remaining $150,000.
The 5% notes mature 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: | $5.15 million
|
| Maturity: | Feb. 18, 2014
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5%
|
| Conversion price: | C$2.33
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Fairfax Financial Holdings Ltd. (for $5 million)
|
| Pricing date: | Feb. 17
|
| Settlement date: | Feb. 18
|
| Stock symbol: | Toronto: NDQ
|
| Stock price: | C$2.75 at close Feb. 13
|
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