By Devika Patel
Knoxville, Tenn., March 5 - YM Biosciences Inc. said it arranged a registered direct offering of units to raise about $15 million.
The company will sell units of one common share and a half-share warrant at $1.20 per unit. The whole warrants are exercisable at $1.60 for five years.
Roth Capital Partners, LLC is the lead agent. Bloom Burton & Co. Inc., Griffin Securities, Inc. and Haywood Securities Inc. are co-placement agents.
Settlement is expected March 10.
Proceeds will be used for drug development activities and general corporate purposes.
Based in Mississauga, Ont., YM develops treatments for cancer.
Issuer: | YM Biosciences Inc.
|
Issue: | Units of one common share and a half-share warrant
|
Amount: | $15 million (approximate)
|
Price: | $1.20
|
Warrants: | One half-share warrant per unit
|
Warrant expiration: | Five years
|
Warrant strike price: | $1.60
|
Agents: | Roth Capital Partners, LLC (lead), Bloom Burton & Co. Inc., Griffin Securities, Inc. and Haywood Securities Inc. (co-placement agents)
|
Pricing date: | March 5
|
Settlement date: | March 10
|
Stock symbol: | Amex: YMI
|
Stock price: | $1.39 at close March 4
|
Market capitalization: | $76.4 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.