Company sells 10 million shares at C$1.50 through non-brokered deal
By Devika Patel
Knoxville, Tenn., Aug. 26 – Zomedica Pharmaceuticals Corp. said on Thursday that it raised C$5.01 million in the first tranche of a C$15 million non-brokered private placement of stock. The deal priced on Aug. 17.
The company is selling 10 million common shares at C$1.50 per share. The price per share is a 3.45% premium to the Aug. 16 closing share price of C$1.45.
Zomedica sold 3,342,480 shares in the initial tranche.
The company will use the proceeds for development of its therapeutic pipeline, acquisitions, furthering its intellectual property and associated protections, capital markets activities and expenditures and general working capital purposes.
The pharmaceutical company is based in Ann Arbor, Mich.
| Issuer: | Zomedica Pharmaceuticals Corp.
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| Issue: | Common shares
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| Amount: | C$15 million
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| Shares: | 10 million
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| Price: | C$1.50
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| Warrants: | No
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| Agent: | Non-brokered
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| Pricing date: | Aug. 17
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| Settlement date: | Aug. 25 (for C$5,013,720)
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| Stock symbol: | TSX Venture: ZOM
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| Stock price: | C$1.45 at close Aug. 16
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| Market capitalization: | C$44.57 million
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