Equity sold as common shares, five-year warrants, at $2.39 per unit
By Devika Patel
Knoxville, Tenn., March 31 - Helix BioPharma Corp. said it settled a C$2.2 million tranche of a private placement of units. The company previously raised C$3.95 million on March 28, for a total of C$6.15 million.
The company sold 1,652,719 units of one common share and one warrant at C$2.39 apiece in the initial tranche and 918,365 units in the second closing. Each warrant will be exercisable at C$3.35 for five years. The strike price represents a 3.08% premium to the closing share price of C$3.25 on March 25.
Proceeds will be used for working capital, primarily to support the company's drug development programs.
Helix BioPharma is an Aurora, Ont., biopharmaceutical company developing products for the treatment of cancer and pre-cancerous conditions.
| Issuer: | Helix BioPharma Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$6,144,890
|
| Units: | 2,571,084
|
| Price: | C$2.39
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$3.35
|
| Settlement date: | March 28 (for C$3,949,998), March 31 (for C$2,194,892)
|
| Stock symbol: | Toronto: HBP
|
| Stock price: | C$3.25 at close March 25
|
| Market capitalization: | C$196.1 million
|
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