Agent IBK Capital is conducting the offering on a best-efforts basis
By Devika Patel
Knoxville, Tenn., June 25 - OPEL Technologies Inc. said it raised C$692,310 million in the second tranche of a C$3 million private placement of units. The deal, which is being conducted through agent IBK Capital Corp., was announced June 11, and the company raised C$507,690 on June 8.
The company is selling 13,043,478 units of one common share and one warrant at C$0.23 per unit on a best-efforts basis.
Each three-year warrant is exercisable at C$0.35. The strike price is a 45.83% premium to C$0.24, the June 7 closing share price.
Based in Toronto, OPEL Technologies makes dual- and single-axis trackers and high-concentration photovoltaic panels through OPEL Solar, Inc. and designs III-V semiconductor devices through ODIS Inc.
| Issuer: | OPEL Technologies Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3 million
|
| Units: | 13,043,478
|
| Price: | C$0.23
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.35
|
| Agent: | IBK Capital Corp.
|
| Announcement date: | June 11
|
| Settlement dates: | June 8 (for C$507,690), June 25 (for C$692,310)
|
| Stock symbol: | TSX Venture: OPL
|
| Stock price: | C$0.24 at close June 7
|
| Market capitalization: | C$21.55 million
|
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