By Devika Patel
Knoxville, Tenn., March 15 - OccuLogix, Inc. said it plans to raise about $5 million in a registered direct offering of stock.
The company will sell approximately 1,552,795 common shares at $3.22 apiece. The investors also will receive warrants for approximately 621,118 shares, which are exercisable at $4.00 for 18 months.
Rodman & Renshaw, LLC is the agent.
Settlement is expected March 18.
Proceeds will be used for general corporate purposes.
Boston-based OccuLogix develops ophthalmic devices to treat age-related eye diseases.
| Issuer: | OccuLogix, Inc.
|
| Issue: | Common shares
|
| Amount: | $5 million (approximate)
|
| Shares: | 1,552,795 (approximate)
|
| Price: | $3.22
|
| Warrants: | For approximately 621,118 shares
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | $4.00
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | March 15
|
| Settlement date: | March 18
|
| Stock symbol: | Nasdaq: TEAR
|
| Stock price: | $3.79 at close March 12
|
| Market capitalization: | $32.6 million
|
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