Company sells 10 million of its units at C$0.56 each through offering
By Devika Patel
Knoxville, Tenn., Jan. 26 – Orca Touchscreen Technologies Ltd. said it plans a C$5.6 million private placement of units.
The company will sell 10 million units of one common share and one half-share warrant at C$0.56 per unit. Each whole warrant will be exercisable at C$0.70 for five years. The strike price reflects a 28.57% discount to the Jan. 26 closing share price of C$0.98.
Proceeds will be used for general working capital purposes.
The Vancouver, B.C., company sells and distributes capacitive touchscreens to manufacturers of electronic devices.
Issuer: | Orca Touchscreen Technologies Ltd.
|
Issue: | Units of one common share and one half-share warrant
|
Amount: | C$5.6 million
|
Shares: | 10 million
|
Price: | C$0.56
|
Warrants: | One half-share warrant per unit
|
Warrant expiration: | Five years
|
Warrant strike price: | C$0.70
|
Pricing date: | Jan. 23
|
Stock symbol: | CNSX: OAA
|
Stock price: | C$0.98 at close Jan. 26
|
|
|
© 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.