Brokered deal sells units at $3.17 each via Stifel Nicolaus, Needham
By Devika Patel
Knoxville, Tenn., March 18 - Novadaq Technologies, Inc. said it plans a private placement of units. The deal will raise about C$15 million.
The company will sell units of one common share and 0.45 warrants at C$3.17 apiece. The whole warrants are exercisable at C$3.18 for five years. The strike price reflects a 0.32% premium to the March 17 closing share price of C$3.17.
Stifel Nicolaus Weisel is the lead agent and Needham & Co., LLC is the co-placement agent.
Proceeds will be used to drive adoption and commercialization of the SPY imaging technology to improve clinical outcomes of complex surgeries including breast reconstruction, gastrointestinal surgeries and other cancer surgeries, 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 common share and 0.45 warrants
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| Amount: | C$15 million (approximate)
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| Price: | C$3.17
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| Warrants: | 0.45 warrants per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | C$3.18
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| Agents: | Stifel Nicolaus Weisel (lead) and Needham & Co., LLC
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| Pricing date: | March 18
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| Stock symbol: | Toronto: NDQ
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| Stock price: | C$3.17 at close March 17
|
| Market capitalization: | C$89.28 million
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