C$500,000 greenshoe was exercised for C$14,367; Haywood was the agent
By Devika Patel
Knoxville, Tenn., April 20 – MediaValet Inc. said it settled a C$1.51 million private placement of units. The deal priced for C$1.5 million with a C$500,000 greenshoe on March 14 and was conducted on a best-efforts basis by agent Haywood Securities Inc.
The company sold 9,464,794 units of one common share and one half-share warrant at C$0.16 per unit. Of the units, 89,794 were part of the partially exercised greenshoe.
Each whole warrant is exercisable at C$0.24 for one year. The strike price is a 41.18% premium to the company’s C$0.17 closing price on March 11.
Proceeds will be used to support the company’s global sales and marketing efforts, to accelerate product development and for general working capital purposes.
The provider of cloud-based digital asset management software is based in Vancouver, B.C.
| Issuer: | MediaValet Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,514,367, including C$14,367 greenshoe of 89,794 units
|
| Units: | 9,464,794
|
| Price: | C$0.16
|
| Warrants: | One half-share per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.24
|
| Agent: | Haywood Securities Inc.
|
| Pricing date: | March 14
|
| Settlement date: | April 20
|
| Stock symbol: | TSX Venture: MVP
|
| Stock price: | C$0.17 at close March 11
|
| Market capitalization: | C$10.78 million
|
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