By Laura Lutz
Des Moines, Aug. 22 - Feel Good Cars Corp. increased the maximum size of its previously announced private placement to a C$1.7 million offering of 1,259,259 units, according to a company release.
The deal priced Aug. 16 as a C$1.5 million offering of 1,111,111 units. The company said the increase was a response to "significant demand."
Each unit will consist of one common share and one half-share warrant. Each full warrant will be exercisable at C$1.55 for 18 months.
Proceeds from the non-brokered deal will be used to increase vehicle production and for general corporate purposes.
The company expects 25% of the units to be sold to subscribers within the company, according to the release.
Toronto-based Feel Good Cars develops zero-emission transportation solutions, including its Zenn electric car.
| Issuer: | Feel Good Cars Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.7 million
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| Units: | 1,259,259
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| Price: | C$1.35
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| Warrants: | One half per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$1.55
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| Pricing date: | Aug. 15
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| Amended: | Aug. 22
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| Stock symbol: | TSX Venture: ZNN
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| Stock price: | C$1.40 at close on Aug. 14
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| Stock price: | C$1.30 at close on Aug 21
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