By Laura Lutz
Des Moines, Aug. 1 - OSI Geospatial Inc. wrapped a private placement of units for C$3.614 million, including a partially exercised greenshoe for C$104,000.
The company sold 5.56 million units, including 160,000 units issued under the greenshoe.
The units were priced at C$0.65 each.
Each unit consists of one share and one half-share warrant with each whole warrant exercisable at C$0.80 each for two years.
The underwriter was Clarus Securities Inc.
The deal priced on July 16 as an offering of 5.4 million units for proceeds of about C$3.5 million. There was a greenshoe for 850,000 units.
Proceeds will be used for development and other growth initiatives, the company said in a press release.
OSI is a Vancouver, B.C.-based company that delivers geospatial systems and software for military, safety and security applications.
Issuer OSI Geospatial Inc.
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3.614 million (includes greenshoe for C$104,000)
|
| Units: | 5.56 million
|
| Price: | C$0.65
|
| Warrants: | One half-share per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.80
|
| Underwriter: | Clarus Securities Inc.
|
| Announcement date: | July 16
|
| Settlement date: | Aug. 1
|
| Stock symbol: | Toronto: OSI
|
| Stock price: | C$0.66 at close July 13
|
| Stock price: | C$0.60 at close July 31
|
© 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.
