By Sheri Kasprzak
New York, July 6 - MIV Therapeutics Inc. is gearing up to complete a $12.55 million private placement.
The company sold to a group of institutional investors 25.1 million units at $0.50 apiece.
The units consist of one share and one half-share warrant with each whole warrant exercisable at $0.55 for five years.
The deal is set to close on July 10.
BMO Capital Markets Corp. was the placement agent.
Proceeds will be used for development of the company's drug-eluting stents, for commercial activities and for general corporate purposes.
Based in Atlanta, MIV develops drug-delivery systems for cardiovascular stents as well as other implantable medical devices.
| Issuer: | MIV Therapeutics Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | $12.55 million
|
| Units: | 25.1 million
|
| Price: | $0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.55
|
| Placement agent: | BMO Capital Markets Corp.
|
| Announcement date: | July 6
|
| Settlement date: | July 10
|
| Stock symbol: | OTCBB: MIVT
|
| Stock price: | $0.63 at close July 6
|
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