By Devika Patel
Knoxville, Tenn., Dec. 12 - Acceleware Corp. said it has repriced and closed a C$3 million private placement of shares. The deal priced on Nov. 19.
Acceleware sold 3,614,458 common shares at C$0.83 per share. The company originally planned to sell 3,529,412 common shares at C$0.85 each.
Northern Securities Inc. and Northern Financial Corp. were the agents and received a 7.5% cash commission and a number of broker warrants equal to 5% of the number of shares sold. Each broker warrant is exercisable at C$1.30 for two years.
Proceeds will be used for marketing, sales, expansion, development, equipment, facilities and working capital.
Calgary, Alta.-based Acceleware develops acceleration products used to reduce the run times of high-performance computing applications like cell phone design and seismic data processing.
| Issuer: | Acceleware Corp.
|
| Issue: | Common shares
|
| Amount: | C$3 million
|
| Shares: | 3,614,458
|
| Price: | C$0.83
|
| Warrants: | No
|
| Agents: | Northern Securities Inc., Northern Financial Corp.
|
| Fees: | 7.5% in cash, 5% in warrants
|
| Pricing date: | Nov. 19
|
| Repriced: | Dec. 12
|
| Settlement date: | Dec. 12
|
| Stock symbol: | TSX Venture: AXE
|
| Stock price: | C$0.88 at close Nov. 16
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
