Technology company sells 1.3 million units to finance working capital
By Devika Patel
Knoxville, Tenn., Feb. 18 - RS Technologies Inc. said it completed a private placement of units. The deal priced for C$1.09 million on Feb. 16. The offering raised the full amount.
The company sold 1.3 million units of one common share and one warrant at C$0.84 apiece.
Each warrant is exercisable at C$1.03 until Feb. 18, 2013. The strike price represents an 18.39% premium to C$0.87, the Feb. 15 closing share price.
Proceeds will be used for working capital.
The Calgary, Alta., technology company develops advanced composite material products for infrastructure markets.
| Issuer: | RS Technologies Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,092,000
|
| Units: | 1.3 million
|
| Price: | C$0.84
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Feb. 18, 2013
|
| Warrant strike price: | C$1.03
|
| Pricing date: | Feb. 16
|
| Settlement date: | Feb. 18
|
| Stock symbol: | Toronto: RS
|
| Stock price: | C$0.87 at close Feb. 16
|
| Market capitalization: | C$8.7 million
|
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