By Sheri Kasprzak
Atlanta, Feb. 14 - Innovative Water & Sewer Systems Inc. said it plans to raise up to C$3 million and at least C$2 million in a private placement.
The offering includes up to 5,357,142 shares and at least 3,571,428 shares at C$0.56 each.
The pricing of the deal is at a 20% discount to the company's closing price of C$0.70 per share on Feb. 11.
The deal is expected to close Feb. 21.
SC Stormont Inc. is the placement agent.
Based in Ottawa, Innovative Water designs and implements wastewater management systems.
| Issuer: | Innovative Water & Sewer Systems Inc.
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| Issue: | Stock
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| Amount: | C$3 million (maximum); C$2 million (minimum)
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| Shares: | 5,357,142 (maximum); 3,571,428 (minimum)
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| Price: | C$0.56
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| Warrants: | No
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| Placement agent: | SC Stormont Inc.
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| Pricing date: | Feb. 14
|
| Stock price: | C$0.70 at close Feb. 14
|
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