Company sells 10 million units of one share and one half-share warrant
By Devika Patel
Knoxville, Tenn., March 31 – Midpoint Holdings Ltd. said it raised C$480,760 in the first tranche of a C$1 million private placement of units. The deal priced on March 28.
The company is selling 10 million units of one common share and one half-share warrant at C$0.10 per unit. It sold 4,807,600 units in the initial tranche.
Each whole, two-year warrant will be exercisable at C$0.20, which is an 81.82% premium to the March 24 closing share price of C$0.11.
The Toronto-based company matches buyers and sellers of foreign currency and transfers the funds to their desired location through an intermediary third-party payment provider.
| Issuer: | Midpoint Holdings Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Pricing date: | March 28
|
| Settlement date: | March 31 (for C$480,760)
|
| Stock symbol: | TSX Venture: MPT
|
| Stock price: | C$0.11 at close March 24
|
| Market capitalization: | C$7.27 million
|
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