By Sheri Kasprzak
New York, July 7 - TSO3 Inc. said it has completed a C$10 million private placement, including the exercise of an over-allotment option.
The company sold a total of 5 million units at C$2.00 each. A total of 1.25 million of the units were sold under a greenshoe exercised by a syndicate of underwriters led by Canaccord Capital Corp.
The units are comprised of one share and one half-share warrant. The whole warrants provide for an additional share at C$2.50 each through July 7, 2007.
The offering was first announced June 22 as a C$7.5 million offering of 3.75 million units under the same terms.
TSO3, based in Quebec City, develops sterilization technologies using ozone. The technologies are used in hospitals.
| Issuer: | TSO3 Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$10 million
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| Units: | 5 million (includes greenshoe for 1.25 million)
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| Price: | C$2.00
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | July 7, 2007
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| Warrant strike price: | C$2.50
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| Underwriters: | Canaccord Capital Corp. (lead)
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| Pricing date: | June 22
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| Settlement date: | July 7
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| Stock price: | C$2.05 at close June 22
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| Stock price: | C$2.28 at close July 6
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