By Devika Patel
Knoxville, Tenn., March 16 - OccuLogix, Inc. gave further details about a $5 million registered direct offering of stock in a prospectus supplement filed Tuesday with the Securities and Exchange Commission. The deal priced Monday.
The company will sell 1,552,795 common shares at $3.22 apiece. The investors also will receive warrants for 621,118 shares, which are each exercisable at $4.00 for 18 months.
Rodman & Renshaw, LLC is the agent.
Settlement is expected March 18.
Proceeds will be used for working capital and general corporate purposes.
Boston-based OccuLogix develops ophthalmic devices to treat age-related eye diseases.
Issuer: | OccuLogix, Inc.
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Issue: | Common shares
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Amount: | $5 million
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Shares: | 1,552,795
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Price: | $3.22
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Warrants: | For 621,118 shares
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Warrant expiration: | 18 months
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Warrant strike price: | $4.00
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Agent: | Rodman & Renshaw, LLC
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Pricing date: | March 15
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Settlement date: | March 18
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Stock symbol: | Nasdaq: TEAR
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Stock price: | $3.79 at close March 12
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Market capitalization: | $30.2 million
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