By Laura Lutz
Des Moines, Nov. 16 - Migenix Inc. announced a bought-deal offering of units for proceeds of C$10.05 million.
The company plans to sell 16.75 million units of one share and one half-share warrant at C$0.60 per unit. Each whole warrant will be exercisable at C$0.80 for five years.
The dealer received a greenshoe to purchase up to an additional 15% of the units offered at any time until 30 days after closing.
Settlement is expected on Dec. 5, subject to regulatory approvals.
Proceeds will be used to advance the company's drug development pipeline and for general corporate purposes.
Migenix is a clinical-stage developer of drugs for infectious and degenerative diseases based in Vancouver, B.C., with U.S. operations in San Diego.
| Issuer: | Migenix Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$10.05 million
|
| Units: | 16.75 million
|
| Greenshoe: | For 2,512,500 units
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.80
|
| Pricing date: | Nov. 16
|
| Settlement date: | Dec. 5
|
| Stock symbol: | Toronto: MGI
|
| Stock price: | C$0.70 at close Nov. 16
|
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