By Sheri Kasprzak
New York, Jan. 27 - Microplanet Technology Corp. said it has priced a C$10 million private placement.
The deal includes up to 13,333,333 units at C$0.75 each.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$1.00 each for 18 months.
Magna Partners Ltd., the placement agent, has a greenshoe for up to 2,666,667 additional units.
Proceeds will be used for the company's business strategy and for working capital.
Based in Seattle, Microplanet develops distributed-energy technologies.
| Issuer: | Microplanet Technology Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$10 million (maximum)
|
| Units: | 13,333,333 (maximum)
|
| Greenshoe: | For up to 2,666,667 units
|
| Price: | C$0.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.00
|
| Placement agent: | Magna Partners Ltd.
|
| Pricing date: | Jan. 27
|
| Stock symbol: | TSX Venture: MP
|
| Stock price: | C$0.90 at close Jan. 27
|
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