Non-brokered deal sold 20 million shares at C$0.20 apiece to Hermed
By Devika Patel
Knoxville, Tenn., Sept. 8 – DiaMedica Inc. said it raised C$3 million in the second and final tranche of a C$4 million non-brokered private placement of stock with Hermed Capital Healthcare Fund. The deal priced July 17 and raised C$1 million on Aug. 22.
The company sold 20 million common shares at C$0.20 apiece, which is a 41.18% discount to the July 15 closing share price of C$0.34. It sold 5 million shares in the initial tranche and 15 million shares in the second and final tranche.
Proceeds will be used for research and development programs and general corporate purposes.
Winnipeg, Man.-based DiaMedica is a Canadian publicly traded clinical stage biopharmaceutical company focused on developing novel treatments for neurological and kidney diseases.
| Issuer: | DiaMedica Inc.
|
| Issue: | Common shares
|
| Amount: | C$4 million
|
| Shares: | 20 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Hermed Capital Healthcare Fund
|
| Pricing date: | July 17
|
| Settlement dates: | Aug. 22 (for C$1 million), Sept. 8 (for C$3 million)
|
| Stock symbol: | TSX Venture: DMA
|
| Stock price: | C$0.34 at close July 15
|
| Market capitalization: | C$26.2 million
|
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