By Devika Patel
Knoxville, Tenn., Feb. 17 - Novadaq Technologies, Inc. said it will raise about C$7 million in a private placement of units.
The company plans to sell units at a net price of C$2.43 apiece. Each unit consists of one common share and one fifth-share warrant. Each whole warrant is exercisable at C$3.00 for five years.
Summer Street Research Partners is the agent in the United States.
Proceeds will be used for sales and marketing expenses, for product research and development and for general corporate purposes.
Toronto-based Novadaq develops medical imaging systems and real-time image-guided therapies.
| Issuer: | Novadaq Technologies, Inc.
|
| Issue: | Units of one share and one fifth-share warrant
|
| Amount: | C$7 million (approximate)
|
| Price: | C$2.43 (net)
|
| Warrants: | One fifth-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$3.00
|
| Agent: | Summer Street Research Partners
|
| Pricing date: | Feb. 17
|
| Stock symbol: | Toronto: NDQ
|
| Stock price: | C$2.96 at close on Feb. 16
|
| Market capitalization: | C$65.3 million
|
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