Proceeds earmarked for interventional oncology product development
By Devika Patel
Knoxville, Tenn., Nov. 15 - BSD Medical Corp. will conduct a registered direct offering of shares, according to a prospectus supplement filed Monday with the Securities and Exchange Commission.
The company will sell 1.75 million common shares at $5.97 per share for $10.45 million. The price per share represents a 15.08% discount to the Nov. 12 closing share price of $7.03.
Investors also will receive warrants for 875,000 common shares. The warrants are exercisable at $7.73 for five years. The strike price reflects a 9.96% premium to the Nov. 12 closing share price.
Roth Capital Partners LLC is the agent.
Settlement is expected Nov. 18.
Proceeds will be used for continuing product development of interventional oncology products.
BSD is a medical systems development company located in Salt Lake City.
| Issuer: | BSD Medical Corp.
|
| Issue: | Common shares
|
| Amount: | $10,447,500
|
| Shares: | 1.75 million
|
| Price: | $5.97
|
| Warrants: | For 875,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $7.73
|
| Agents: | Roth Capital Partners LLC
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 18
|
| Stock symbol: | Nasdaq: BSDM
|
| Stock price: | $7.03 at close Nov. 12
|
| Market capitalization: | $149.82 million
|
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