Deal’s proceeds fund technology development, general working capital
By Devika Patel
Knoxville, Tenn., Dec. 1 – Natcore Technology Inc. said it raised C$610,000 in the first tranche of a C$3 million non-brokered private placement of units. The deal priced Nov. 26.
The company is selling 8,333,333 units of one common share and one warrant at C$0.36 per unit. Each warrant is exercisable at C$0.55 for three years. The strike price is a 19.57% premium to C$0.46, the Nov. 25 closing share price.
Natcore sold 1,694,444 units in the initial tranche.
Proceeds will be used for technology development and general working capital.
Based in Red Bank, N.J., Natcore Technology controls a process for thin film growth with applications in solar energy, semiconductors, fiber optics and other industries.
Issuer: | Natcore Technology Inc.
|
Issue: | Units of one common share and one warrant
|
Amount: | C$3 million
|
Units: | 8,333,333
|
Price: | C$0.36
|
Warrants: | One warrant per unit
|
Warrant expiration: | Three years
|
Warrant strike price: | C$0.55
|
Agent: | Non-brokered
|
Pricing date: | Nov. 26
|
Settlement date: | Dec. 1 (for C$610,000)
|
Stock symbol: | TSX Venture: NXT
|
Stock price: | C$0.46 at close Nov. 25
|
Market capitalization: | C$17.78 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.