Non-brokered deal sells 3.02 million common shares at C$1.25 per share
By Devika Patel
Knoxville, Tenn., March 6 – Aurora Spine Corp. said it raised C$781,250 in the second and final tranche of a C$3.75 million non-brokered private placement of stock. The deal raised C$2.97 million on Feb. 20, when the company said it could raise up to C$4 million in the sale.
The company sold 3,002,000 common shares at C$1.25 apiece. The price per share is a 14.39% discount to the Feb. 19 closing share price of C$1.46. Aurora sold 2,377,000 shares in the initial tranche and 625,000 shares in the second.
Director David Rosenkrantz invested C$200,000 in the first tranche by buying 160,000 shares.
Proceeds will be used for general working capital purposes.
The spinal implant technology company is based in Carlsbad, Calif.
| Issuer: | Aurora Spine Corp.
|
| Issue: | Common stock
|
| Amount: | C$3,752,500
|
| Shares: | 3,002,000
|
| Price: | C$1.25
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | David Rosenkrantz (for C$200,000)
|
| Settlement dates: | Feb. 20 (for C$2,971,250), March 6 (for C$781,250)
|
| Stock symbol: | TSX Venture: ASG
|
| Stock price: | C$1.46 at close Feb. 19
|
| Market capitalization: | C$29.95 million
|
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