Deal includes warrants with strike price at 100% premium to stock price
By Susanna Moon
Chicago, May 3 – Khot Infrastructure Holdings Ltd. said it plans a C$1 million non-brokered private placement of units of one common share and one-half of a non-transferable warrant.
The company plans to sell up to 10 million units at a price of C$0.10 each, with warrants exercisable at C$0.20 for 12 months after closing, according to an announcement.
The strike price is a 100% premium to the company’s closing price on May 2.
The securities issued under the private placement will be subject to a four-month hold period.
Proceeds will be used to take advantage of the evolution of the company’s Mongolian infrastructure activities over the last six months and implement a rapid expansion of the strategic business plan, the release noted.
Khot is a Mongolian transportation contractor based in the British Virgin Islands.
| Issuer: | Khot Infrastructure Holdings, Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10 each
|
| Warrants: | Half-share per unit
|
| Warrant expiration: | 12 months
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | May 3
|
| Stock symbol: | Canada: KOT
|
| Stock price: | C$0.10 at close May 2
|
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