By Sheri Kasprzak
New York, May 30 - H2O Innovation (2000) Inc. has upsized to C$10,107,500 its previously announced C$10 million private placement.
The offering now includes 11,230,555 units at C$0.90 each.
The units consist of one share and one warrant. Each warrant allows for the purchase of another share at C$1.25 for two years.
Amsterdams Effectenkantoor BV is the placement agent.
The proceeds will be used for the company's acquisition of Membrane Systems Corp. and for debt repayment.
Under the terms of the acquisition, H2O will buy all of the assets of Membrane Systems for US$3.1 million.
The deal priced on May 10 as a C$10 million offering of 11,111,111 units under the same terms.
Quebec City-based H2O processes drinking water with a portfolio of membrane technologies used by the municipal and industrial sectors.
| Issuer: | H2O Innovation (2000) Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$10,107,500
|
| Units: | 11,230,555
|
| Price: | C$0.90
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
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| Warrant strike price: | C$1.25
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| Placement agent: | Amsterdams Effectenkantoor BV
|
| Pricing date: | May 10
|
| Upsized: | May 29
|
| Stock symbol: | TSX Venture: HEO
|
| Stock price: | C$1.12 at close May 29
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