By Sheri Kasprzak
New York, Oct. 6 - Visiphor Corp. said it has arranged a private placement for up to C$5.5 million to pay for its acquisition of Sunaptic Solutions Inc.
The offering includes up to 11 million units at C$0.50 each.
The units are comprised of one share and one warrant. The warrant details were unavailable Thursday.
Blackmont Capital Inc. is the placement agent.
The acquisition is expected to cost C$3.2 million, C$2.72 million of which will be funded in cash. The remainder will be funded through the issue of 960,000 shares at C$0.50 each.
Based in Vancouver, B.C., Visiphor provides data systems for law enforcement. Sunaptic develops Microsoft technologies for the health care and financial services sectors.
| Issuer: | Visiphor Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$5.5 million (maximum)
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| Units: | 11 million (maximum)
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| Price: | C$0.50
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| Warrants: | One warrant per unit
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| Placement agent: | Blackmont Capital Inc.
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| Pricing date: | Oct. 6
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| Stock price: | C$0.50 at close Oct. 5
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