By Sheri Kasprzak
New York, March 16 - Response Biomedical Corp. said it has organized a private placement for C$10 million.
The deal includes 20 million units of one share and one half-share warrant with each whole warrant exercisable at C$0.62 for two years.
The offering will be brokered by a U.S.-based investment bank and a Canadian firm.
Connected to the placement, Response reduced the strike price on 1,875,000 warrants to C$0.90 from C$1.15.
Vancouver, B.C.-based Response develops diagnostic tests.
| Issuer: | Response Biomedical Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$10 million
|
| Units: | 20 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.62
|
| Placement agent: | U.S.- and Canadian-based investment banks
|
| Pricing date: | March 16
|
| Stock symbol: | TSX Venture: RBM
|
| Stock price: | C$0.77 at close March 15
|
|
|
© 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.
