Wolverton Securities helps fund clinical trials, research, development
By Devika Patel
Knoxville, Tenn., May 21 - RepliCel Life Sciences Inc. said it raised C$552,750 in the second, non-brokered tranche of a C$7.5 million private placement of units.
The deal priced on March 28 and is being conducted by lead agent Wolverton Securities Ltd. Part of the deal is also being conducted on a non-brokered basis. The company raised C$2.79 million on May 9.
The company is selling 10 million units of one common share and one warrant at C$0.75 per unit on a commercially reasonable basis. It sold 3,717,167 units in the initial tranche and 737,000 units in the second closing.
Of the first-tranche units, 2,783,667 were sold by the agent for C$2.09 million and 933,500 were sold on a non-brokered basis for C$700,125. The second tranche was conducted on a non-brokered 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
|
| Settlement date: | May 9 (for C$2,787,875), May 21 (for C$552,750)
|
| Stock symbol: | TSX Venture: RP
|
| Stock price: | C$0.72 at close March 27
|
| Market capitalization: | C$33.51 million
|
© 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.
