By Sheri Kasprzak
Atlanta, Dec. 13 - HydraLogic Systems Inc. said Monday it has dropped the price and increased the number of units offered in its previously announced C$5 million private placement.
The company will issue 5 million units at C$1 each. The units include one share and one half-share warrant. The whole warrants allow for an additional share at C$1.25 through June 30, 2006.
Placement agent Kingsdale Capital Markets Inc. has the option to increase the size of the offering by an additional 750,000 units for 30 days before the closing date.
The offering is scheduled to close later this month.
The private placement, announced Nov. 2, originally called for 4,166,667 units at C$1.20 each. The warrants in the original deal were priced at C$1.50.
HydraLogic is a Barrie, Ont.-based environmental technology company.
| Issuer: | HydraLogic Systems Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5 million
|
| Shares: | 5 million units
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | June 30, 2006
|
| Warrant strike price: | C$1.25
|
| Placement agent: | Kingsdale Capital Markets Inc.
|
| Announcement date: | Nov. 2
|
| Amended: | Dec. 13
|
| Stock price: | C$1.02 at close Nov. 2
|
| Stock price: | C$1.20 at close Dec. 13
|
|
|
© 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.
