Non-brokered deal is part of company’s planned qualifying transaction
By Devika Patel
Knoxville, Tenn., April 29 – Inspira Financial Inc. will conduct a C$9 million non-brokered private placement of units as part of Chrysalis Capital IX Corp.’s qualifying transaction with the company, which was announced in October.
The company will sell units of one common share and a half-share warrant at C$0.15 per unit, according to a Chrysalis press release. Each whole one-year warrant is exercisable at C$0.30, a 200% premium to Chrysalis’ April 28 closing share price of C$0.10.
Proceeds will be allocated toward marketing and revenue generation of Socialitize's business and for general working capital.
Chrysalis is a capital pool company in Toronto. Inspira is a private company focused on rolling up the highly fragmented market of small companies in the emerging, large and growing market for alternative financial services offered to health-care providers and their patients across the United States. Inspira plans to acquire medical bill collection agencies and medical equipment leasing companies and increase revenue through cross-selling alternative financial services. Inspira has C$9.6 million in total assets.
| Issuer: | Inspira Financial Inc.
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| Issue: | Units of one common share and a half-share warrant
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| Amount: | C$9 million
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| Price: | C$0.15
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.30
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| Agent: | Non-brokered
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| Pricing date: | April 29
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| Stock symbol: | TSX Venture: NYN.P (Chrysalis Capital IX Corp.)
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| Stock price: | C$0.10 at close April 28
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| Market capitalization: | C$614,100
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