Agent IBK Capital conducted the offering due to high demand for units
By Devika Patel
Knoxville, Tenn., Sept. 14 - OPEL Technologies Inc. said it settled a C$1.24 million private placement of units. The deal, which was conducted through agent IBK Capital Corp., is substantially similar to a C$3 million private placement completed on Monday and was conducted due to high demand for the previous fully subscribed units sale, which priced June 11.
The company sold 5,369,000 units of one common share and one warrant at C$0.23 per unit.
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$1,234,870
|
| Units: | 5,369,000
|
| Price: | C$0.23
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.35
|
| Agent: | IBK Capital Corp.
|
| Pricing date: | June 11
|
| Settlement date: | Sept. 14
|
| Stock symbol: | TSX Venture: OPL
|
| Stock price: | C$0.24 at close June 7
|
| Market capitalization: | C$29.89 million
|
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