Proceeds will fund commercialization of VentriPoint Medical System
By Devika Patel
Knoxville, Tenn., June 10 - VentriPoint Diagnostics Ltd. said it settled the first tranche of a C$3 million non-brokered private placement of units. The deal priced on May 11 and the company raised C$1.13 million in this tranche.
The company is selling 17,647,059 units of one common share and a half-share warrant at C$0.17 apiece. It sold 6,655,947 units in this tranche.
Each whole warrant is exercisable at C$0.25 for three years. The strike price reflects a 47.06% premium to the May 10 closing share price of C$0.17.
Proceeds will be used for product and service commercialization of the VentriPoint Medical System, expansion of VentriPoint Medical System functionality and working capital.
Based in Calgary, Alta., VentriPoint is a clinical diagnostic company.
| Issuer: | VentriPoint Diagnostics Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$3 million
|
| Units: | 17,647,059 (6,655,947 in first tranche)
|
| Price: | C$0.17
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | May 11
|
| Settlement date: | June 10 (for C$1,131,511)
|
| Stock symbol: | TSX Venture: VPT
|
| Stock price: | C$0.17 at close May 10
|
| Market capitalization: | C$12.42 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.
