By Jennifer Chiou
New York, Jan. 24 - NeuroMedix Inc. said it closed on C$3.3 million in its initial public offering, including the exercise of a C$0.3 million over-allotment option.
The company sold 13.2 million shares at C$0.25 per share.
Dundee Securities Corp. was the placement agent.
The company said it received proceeds of C$2.9 million, which will go towards research and development and general and administrative expenses, including working capital.
NeuroMedix said it expects its shares to start trading on the TSX Venture Exchange on Jan. 30 under "NMX."
Based in Toronto, NeuroMedix is a biotechnology focused on degenerative and inflammatory diseases of the central nervous system, such as Alzheimer's disease, multiple sclerosis and Parkinson's disease.
| Issuer: | NeuroMedix Inc.
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| Issue: | Stock
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| Amount: | C$3.3 million (includes C$0.3 greenshoe)
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| Stock: | 13.2 million shares
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| Price: | C$0.25
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| Agent: | Dundee Securities Corp.
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| Stock symbol: | TSX Venture: NMX
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