Company sells 4,517,000 units of one share and one half-share warrant
By Devika Patel
Knoxville, Tenn., March 6 - EXO U Inc. said it completed a C$5 million private placement of units. The deal priced for C$5 million with a C$2 million greenshoe on Feb. 12 and was conducted by a syndicate of underwriters led by Mackie Research Capital Corp.
The company sold 4,517,000 units of one common share and one half-share warrant at C$1.55 per unit on a bought-deal basis. Of the units, 1,291,000 were part of the fully exercised greenshoe.
Each whole two-year warrant will be exercisable at C$1.95. The strike price reflects an 11.43% premium to the Feb. 11 closing share price of C$1.75.
Proceeds will be used for general corporate and working capital purposes.
The enterprise software company is based in Montreal.
| Issuer: | EXO U Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$7,001,350, including C$2,001,050 greenshoe
|
| Units: | 4,517,000
|
| Price: | C$1.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.95
|
| Agent: | Mackie Research Capital Corp. (lead)
|
| Pricing date: | Feb. 12
|
| Settlement date: | March 6
|
| Stock symbol: | TSX Venture: EXO
|
| Stock price: | C$1.75 at close Feb. 11
|
| Market capitalization: | C$55.98 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.
