By Devika Patel
Knoxville, Tenn., Feb. 9 - Osta Biotechnologies Inc. said it plans a C$2.5 million private placement of units. Sherbrooke Street Capital Inc. is the agent of this best-efforts offering.
The company will sell 17,857,143 units of one common share and one half-share warrant at C$0.14 per unit. Each whole warrant will be exercisable at C$0.22 for two years.
Proceeds will be used for research and development as well as for working capital and general corporate purposes.
Osta is a biopharmaceutical company based in Montreal.
| Issuer: | Osta Biotechnologies Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.5 million
|
| Units: | 17,857,143
|
| Price: | C$0.14
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.22
|
| Agent: | Sherbrooke Street Capital Inc.
|
| Pricing date: | Feb. 9
|
| Stock symbol: | TSX Venture: OBI
|
| Stock price: | C$0.05 at close Feb. 9
|
| Market capitalization: | C$1.77 million
|
© 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.
