By Sheri Kasprzak
New York, Nov. 17 - Protox Therapeutics Inc. said it concluded an oversubscribed private placement for C$5,871,800.
In the last tranche, the company issued 2,652,000 units at C$0.50 each.
The units are composed of one share and one warrant. The whole warrants are exercisable at C$0.65 each for two years.
On Nov. 5, the company closed the first tranche of the offering for C$4,545,800.
The non-brokered deal was first announced Oct. 27 as a C$4 million offering comprised of 8 million units under the same terms, but was upsized to C$5.5 million on Nov. 4.
Proceeds will be used for phase 1 clinical trials, research and development and working capital.
Based in Vancouver, B.C., Protox is a biotechnology company focused on cancer and other diseases.
| Issuer: | Protox Therapeutics Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$5,871,800
|
| Units: | 11,743,600
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.65
|
| Placement agent: | Non-brokered
|
| Pricing date: | Oct. 27
|
| Settlement date: | Nov. 17
|
| Stock price: | C$0.54 at close Oct. 27
|
| Stock price: | C$0.57 at close Nov. 17
|
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