Company raises funds for research, development and working capital
By Devika Patel
Knoxville, Tenn., Nov. 12 – Lightbridge Corp. said it plans a registered direct offering of units to raise $5.04 million. William Blair & Co., LLC is the agent.
The company will sell 2,878,516 units of one common share and one warrant for 0.95 of a share at $1.75 per unit, with each whole warrant exercisable at $2.31 for seven years.
The strike price reflects a 1.28% discount to the Nov. 10 closing share price of $2.34.
Settlement is expected Nov. 17.
Proceeds will be used for research and development and general working capital purposes.
Based in McLean, Va., Lightbridge designs next-generation nuclear fuel systems and provides nuclear energy consulting services.
| Issuer: | Lightbridge Corp.
|
| Issue: | Units of one common share and one warrant for 0.95 of a share
|
| Amount: | $5,037,403
|
| Units: | 2,878,516
|
| Price: | $1.75
|
| Warrants: | One warrant for 0.95 of a share per unit
|
| Warrant expiration: | Seven years
|
| Warrant strike price: | $2.31
|
| Agent: | William Blair & Co., LLC
|
| Pricing date: | Nov. 12
|
| Settlement date: | Nov. 17
|
| Stock symbol: | Nasdaq: LTBR
|
| Stock price: | $2.34 at close Nov. 10
|
| Market capitalization: | $31.9 million
|
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