By Devika Patel
Knoxville, Tenn., Feb. 22 - Novadaq Technologies, Inc. said it raised C$7.41 million in a private placement of units. The deal priced for about C$7 million on Feb. 17.
The company sold 3,049,207 units at C$2.43 apiece. Each unit consists of one common share and one fifth-share warrant. Each whole warrant is exercisable at C$3.00 for five years.
Summer Street Research Partners was the agent in the United States.
Proceeds will be used for sales and marketing expenses, product research and development efforts and general corporate purposes.
Toronto-based Novadaq develops medical imaging systems and real-time image-guided therapies.
| Issuer: | Novadaq Technologies, Inc.
|
| Issue: | Units of one share and one fifth-share warrant
|
| Amount: | C$7,409,572
|
| Units: | 3,049,207
|
| Price: | C$2.43
|
| Warrants: | One fifth-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$3.00
|
| Agent: | Summer Street Research Partners
|
| Pricing date: | Feb. 17
|
| Stock symbol: | Toronto: NDQ
|
| Stock price: | C$2.96 at close on Feb. 16
|
| Market capitalization: | C$62.4 million
|
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