By Laura Lutz
Des Moines, Aug. 18 - Acceleware Corp. settled a private placement of units for C$1.5 million.
The company sold 3,571,430 units of one share and one half-share warrant for C$0.42 each, with each whole warrant exercisable at C$0.70 for 18 months.
The placement included a C$1 million brokered offering of 2,380,953 units and a C$500,000 non-brokered offering of 1,190,477 units.
Leede Financial Markets Inc. acted as the agent in the brokered offering.
The proceeds will be used for the development of an accelerator for seismic processing, for marketing and for working capital.
Calgary, Alta.-based Acceleware develops hardware to reduce the run time of high-performance computing applications.
| Issuer: | Acceleware Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 3,571,430
|
| Price: | C$0.42
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.70
|
| Placement agents: | Leede Financial Markets Inc. for 2,380,953 units; non-brokered for 1,190,477 units
|
| Settlement date: | Aug. 18
|
| Stock symbol: | TSX Venture: AXE
|
| Stock price: | C$0.48
|
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