By Laura Lutz
Des Moines, Aug. 7 - Hosted Data Transaction Solutions Inc., formerly Dexit Inc., raised C$1.41 million from the second tranche of a private placement of special warrants, bringing the total raised to C$5.43 million.
In total, the company sold 6,787,500 special warrants at C$0.80 each. The second tranche included 1,762,500 special warrants.
The first tranche, which closed on July 13, included 5.025 million special warrants.
On Aug. 3, each of the special warrants was automatically exchanged for one class A common share and one half-share warrant.
The exchange followed completion of the company's acquisition the Quick Service Restaurant division of Howell Data Systems Inc.
Each whole warrant will be exercisable at C$1.25 for two years.
Expiry of the warrants may be accelerated to 10 days if, at any time more than four months after closing, the closing price of the company's shares exceeds C$1.75 for 20 consecutive trading days.
Toronto-based Hosted Data provides solutions for managing merchant transactions with customers. The company's name was changed from Dexit Inc. on July 31. The company will begin trading under its new symbol, "HDX," on Aug. 10.
| Issuer: | Hosted Data Transaction Solutions Inc.
|
| Issue: | Special warrants exchangeable for one class A common share and one half-share warrant
|
| Amount: | C$5.43 million
|
| Special warrants: | 6,787,500
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years; or 10 days if, at any time more than four months after closing, the closing price of the company's shares exceeds C$1.75 for 20 consecutive trading days
|
| Warrant strike price: | C$1.25
|
| Pricing date: | July 5
|
| Settlement date: | July 13 (for C$4.02 million); Aug. 6 (for C$1.41 million)
|
| Stock symbol: | Toronto: DXT
|
| Stock price: | C$0.80 at close July 5
|
| Stock price: | C$0.85 at close July 13
|
| Stock price: | C$0.83 at close Aug. 6
|
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