Each whole warrant exercisable at C$1.55 within 18 months from closing
By Angela McDaniels
Tacoma, Wash., May 17 – Opsens Inc. raised C$5 million through a non-brokered private placement of units. The company issued a total of 4,761,000 units at a price of C$1.05 per unit.
Each unit consists of one common share and one-half of a purchase warrant. Each whole warrant can be exercised for one share at a price of C$1.55 within 18 months from the closing date. The strike price is a 16.5% premium over the company’s May 16 closing share price.
The placement was led by Lumira Capital LP, according to a company news release.
The company plans to use the proceeds for sales and marketing, to fund research and product development and to fund its working capital.
Quebec City-based Opsens makes an optical-based pressure guidewire used in interventional cardiology and fiber optic sensing solutions for the monitoring of oil wells and other industrial applications.
| Issuer: | Opsens Inc.
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| Issue: | Units of one common share and half a warrant
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| Amount: | C$4,999,050
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| Units: | 4,761,000
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| Price: | C$1.05
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| Warrants: | Half a warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$1.55
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| Agent: | Non-brokered
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| Lead investor: | Lumira Capital LP
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| Settlement date: | May 17
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| Stock symbol: | TSX Venture: OPS
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| Stock price: | C$1.33 at close May 16
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| Market capitalization: | C$87.84 million
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