Deal conducted by agent MLV; Eastern Capital invests C$15.58 million
By Devika Patel
Knoxville, Tenn., Nov. 23 - Resverlogix Corp. said it plans a C$17.49 million private placement of stock. The deal will be conducted on a best-efforts basis by MLV & Co.
The company will sell 14,819,476 common shares at C$1.18 apiece. The price per share reflects a 5.36% premium to the Nov. 22 closing share price of C$1.12.
Eastern Capital Ltd. will invest C$15.58 million.
Proceeds will be used for research and development activities, general and administrative expenses, working capital and other general corporate purposes.
Based in Calgary, Alta., Resverlogix is a biotechnology company focused on therapies for cardiovascular disease.
| Issuer: | Resverlogix Corp.
|
| Issue: | Common stock
|
| Amount: | C$17,486,982
|
| Shares: | 14,819,476
|
| Price: | C$1.18
|
| Warrants: | No
|
| Agent: | MLV & Co.
|
| Investor: | Eastern Capital Ltd. (for C$15,576,000)
|
| Pricing date: | Nov. 23
|
| Stock symbol: | Toronto: RVX
|
| Stock price: | C$1.12 at close Nov. 22
|
| Market capitalization: | C$65.8 million
|
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