Proceeds will be used for capital investment, leasehold improvements
By Devika Patel
Knoxville, Tenn., Dec. 12 - IntelGenx Technologies Corp. priced a $3.5 million public offering of units with a $1.05 million greenshoe, according to an 8-K filed Thursday with the Securities and Exchange Commission. The offering was announced July 22.
The company will sell 7,920,346 units of one common share and one warrant at $0.4419 per unit. Each warrant will be exercisable at $0.5646 for five years. The strike price is a 15.25% premium to the Dec. 11 closing share price of $0.49.
H.C. Wainwright & Co., LLC is the agent.
Settlement is expected Dec. 16.
Proceeds will be used to make a capital investment in VersaFilm manufacturing equipment, to make new facility leasehold improvements and for working capital and other general corporate purposes.
Based in Saint Laurent, Quebec, IntelGenx develops oral controlled-release products, including smoking-cessation products.
| Issuer: | IntelGenx Technologies Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $3.5 million
|
| Greenshoe: | $1.05 million
|
| Units: | 7,920,346
|
| Price: | $0.4419
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.5646
|
| Agent: | H.C. Wainwright & Co., LLC
|
| Announcement date: | July 22
|
| Pricing date: | Dec. 12
|
| Settlement date: | Dec. 16
|
| Stock symbol: | OTCBB: IGXT
|
| Stock price: | $0.49 at close Dec. 11
|
| Market capitalization: | $25.47 million
|
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