Visitors Now:
Total Visits:
Total Stories:
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

iAnthus Capital increases bought deal to C$20mln from C$15mln

Friday, October 28, 2016 7:41
% of readers think this story is Fact. Add your two cents.

(Before It's News)

iAnthus Capital Holdings Inc. (CNSX:IAN) has revised upwards its bought deal financing to an offer of 9,525,000 units at a price of C$2.10 per unit for aggregate gross proceeds to C$20,002,500.

Late on Thursday it announced an offer of C$15,015,000. The upsized offer is expected to close on November 17.

The syndicate of underwriters is led by Canaccord Genuity Corp. and includes Beacon Securities Ltd.

Each unit will comprise one common share of the company and one-half of one common share purchase warrant. Each warrant will be exercisable to acquire one common share for a period of one year following the closing date of the upsized offering at an exercise price of C$3.00 per warrant share. The warrants will be subject to a 30-day forced exercise provision if the company’s daily volume-weighted average share price is greater than C$4.00 for 15 consecutive trading days.

The company will not be granting the underwriters an overallotment option in connection with the upsized offering.

The units will be offered by way of a short form prospectus to be filed in all provinces of Canada, except Quebec. The company intends to use the net proceeds from the upsized offering for working capital and general corporate purposes.

Story by ProactiveInvestors

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.