By Devika Patel
Knoxville, Tenn., Sept. 15 - Arise Technologies Corp. said it arranged a C$10 million equity line of credit with Haverstock Master Fund.
Haverstock has committed to purchase up to C$10 million of the company's common stock over the course of three years.
The company may receive up to C$500,000 per drawdown. The shares will be sold to Haverstock at a price equal to the weighted average market price determined over a pricing period of five trading days, less a 6.5% discount.
Arise is a solar energy company based in Kitchener, Ont.
| Issuer: | Arise Technologies Corp.
|
| Issue: | Equity line of credit
|
| Amount: | C$10 million
|
| Tenor: | Three years
|
| Price: | 93.5% of market price
|
| Warrants: | No
|
| Investor: | Haverstock Master Fund
|
| Settlement date: | Sept. 15
|
| Stock symbol: | Toronto: APV
|
| Stock price: | C$0.32 at close Sept. 14
|
| Market capitalization: | C$42.5 million
|
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