By Sheri Kasprzak
Atlanta, Feb. 4 - MedcomSoft Inc. said it has increased the size of its previously announced private placement of units to C$3 million from C$1.5 million.
The company will now sell 6 million units at C$0.50 each. The units are comprised of one share and one quarter-share warrant.
The whole warrants allow for an additional share at C$0.65 each for two years.
The offering is expected to close Feb. 10.
Loewen, Ondaatje, McCutcheon Ltd. is the placement agent in the deal.
MedcomSoft, based in Toronto, designs, develops and markets software for the healthcare industry. It plans to use the proceeds for working capital.
| Issuer: | MedcomSoft Inc.
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| Issue: | Units of one share and one quarter-share warrant
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| Amount: | C$3 million
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| Shares: | 6 million
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| Price: | C$0.50
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| Warrants: | One quarter-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.65
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| Placement agent: | Loewen, Ondaatje, McCutcheon Ltd.
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| Pricing date: | Jan. 19
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| Upsized: | Feb. 4
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| Settlement date: | Feb. 10
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| Stock price: | C$0.51 at close Jan. 19
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| Stock price: | C$0.47 at close Feb. 3
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