Deal has C$500,000 greenshoe; brokered offering conducted by Canaccord
By Devika Patel
Knoxville, Tenn., July 31 - Calyx Bio-Ventures Inc. said it raised C$275,000 in the first tranche of a C$1.5 million brokered private placement of units. The deal is being conducted by agent Canaccord Genuity Corp. and priced with a C$500,000 greenshoe on May 9. The sale is being conducted alongside a non-brokered offering of C$500,000 in units.
The company is selling 6 million units of one common share and one half-share warrant at C$0.25 per unit in the brokered sale and 2 million units in the non-brokered deal. It sold 1.11 million units on a brokered basis in the first tranche.
Each whole warrant is exercisable at C$0.40 for two years. The strike price is a 25% premium to the May 8 closing share price of C$0.32.
Settlement is expected May 30.
Proceeds will be used for general working capital purposes.
The company also said it has cancelled a C$3.5 million non-brokered private placement of common stock that was announced on March 9.
Calyx is a gene therapy and transgenics company in North Vancouver, B.C.
| Issuer: | Calyx Bio-Ventures Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Greenshoe: | C$500,000
|
| Units: | 8 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Canaccord Genuity Corp. (for C$1.5 million), non-brokered (for C$500,000)
|
| Pricing date: | May 9
|
| Settlement date: | July 31 (for C$275,000)
|
| Stock symbol: | TSX Venture: CYX
|
| Stock price: | C$0.32 at close May 8
|
| Market capitalization: | C$1.78 million
|
© 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.
