By Devika Patel
Knoxville, Tenn., July 30 - CounterPath Corp. said it will raise about C$5.08 million in a private placement of units.
The company will sell around 3.3 million units at C$1.54, or about $1.50, apiece. Each unit consists of one common share and a half-share warrant. The whole warrants are exercisable at $2.25 for two years.
The company said it expects insiders to participate for 25% of the deal.
Proceeds will be used to fund operations.
Based in Vancouver, B.C., CounterPath is a provider of desktop and mobile VoIP software products and solutions.
| Issuer: | CounterPath Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5,082,000 (approximate)
|
| Units: | 3.3 million (approximate)
|
| Price: | C$1.54 (approximately $1.50)
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $2.25
|
| Pricing date: | July 30
|
| Stock symbol: | OTCBB: CPAH
|
| Stock price: | $1.55 at close July 30
|
© 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.
