Wolverton Securities helps fund clinical trials, research, development
By Devika Patel
Knoxville, Tenn., March 28 - RepliCel Life Sciences Inc. said it arranged a C$7.5 million private placement of units with lead agent Wolverton Securities Ltd. Part of the deal may be completed on a non-brokered basis.
The company will sell 10 million units of one common share and one warrant at C$0.75 per unit on a commercially reasonable basis.
The two-year warrants are each exercisable at C$1.00 in the first year and C$1.25 per in the second year. The strike prices are 38.89% and 73.61% premiums to the March 27 closing share price of C$0.72.
Proceeds will be used for clinical trials, research and development and general working capital.
RepliCel is a Vancouver, B.C.-based company that is developing an anti-balding technology.
| Issuer: | RepliCel Life Sciences Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$7.5 million
|
| Units: | 10 million
|
| Price: | C$0.75
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00 in the first year and C$1.25 per in the second year
|
| Agent: | Wolverton Securities Ltd. (lead), non-brokered
|
| Pricing date: | March 28
|
| Stock symbol: | TSX Venture: RP
|
| Stock price: | C$0.72 at close March 27
|
| Market capitalization: | C$36.42 million
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