By Devika Patel
Knoxville, Tenn., March 28 - MonoGen, Inc. said it has negotiated a C$5 million private placement of units.
The company will sell 5 million units of one share and one half-share warrant at C$1.00 per unit. Each whole warrant will be exercisable at C$1.40 for two years.
GMP Securities LP, the agent, has a greenshoe for another C$2.5 million of units.
Settlement is expected on April 16.
Proceeds will be used for working capital and general corporate purposes.
Based in Montreal, MonoGen is a medical device company focused on products to collect samples for medical testing.
| Issuer: | MonoGen, Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5 million
|
| Greenshoe: | C$2.5 million
|
| Units: | 5 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.40
|
| Agent: | GMP Securities LP
|
| Pricing date: | March 28
|
| Settlement date: | April 16
|
| Stock symbol: | Toronto: MOG
|
| Stock price: | C$0.99 at close March 27
|
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