By Devika Patel
Knoxville, Tenn., April 8 - Opsens Inc. said it completed a C$3.77 million private placement of units. The deal, which was conducted by a syndicate of agents led by M Partners Inc. and including Desjardins Securities Inc. and Blackmont Capital Inc., priced on March 26 for C$4 million with a 15% greenshoe.
The company sold 4,711,126 units at C$0.80 apiece. Opsens planned to sell 5 million units at that price.
Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$1.10 for two years.
The warrants may expire sooner if the company's common shares trade at or above C$1.50, in which case the warrants will expire 30 days after the company notifies holders.
Opsens will pay a C$263,823 finder's fee to the agents and issue broker compensation warrants for 329,779 common shares, exercisable at C$0.80 for two years.
Proceeds will be used for acquisitions, for marketing and for general working capital purposes.
Quebec City-based Opsens develops fiber optic sensors and signal conditioners used in the oil and natural gas sector.
| Issuer: | Opsens Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3,768,901
|
| Units: | 4,711,126
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.10
|
| Agents: | M Partners Inc. (lead), Desjardins Securities Inc., Blackmont Capital Inc.
|
| Fees: | C$263,823 in cash, warrants for 329,779 common shares
|
| Pricing date: | March 26
|
| Settlement date: | April 8
|
| Stock symbol: | TSX Venture: OPS
|
| Stock price: | C$0.89 at close March 25
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
