By Sheri Kasprzak
New York, Aug. 2 - Avenue Financial Corp. has changed the terms of the warrants that will be issued in its previously announced C$1 million private placement.
The company now plans to sell units of one share and one whole warrant, as opposed to the originally announced half-share warrant.
The units are priced at C$0.05 each.
The warrants are exercisable at C$0.10 each.
The pricing terms of the deal have not changed.
The offering priced April 27 as a C$1 million offering of 20 million units of one share and one half-share warrant.
Based in Toronto, Avenue develops investment products sold by registered brokers and dealers for high net-worth investors and institutions.
| Issuer: | Avenue Financial Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1 million (maximum)
|
| Units: | 20 million (maximum)
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Placement agent: | Non-brokered
|
| Pricing date: | April 27
|
| Amended: | Aug. 2
|
| Stock symbol: | TSX Venture: AFC
|
| Stock price: | C$0.05 at close April 27
|
| Stock price: | C$0.02 at close Aug. 2
|
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