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Crescita Therapeutics Inc. Announces Completion of Oversubscribed Rights Offering
Crescita Therapeutics Inc. Announces Completion of Oversubscribed Rights Offering ...
About this update from Crescita Therapeutics, Inc.
[{"type":"text","content":"\n\n\n\nCrescita Therapeutics Inc. Announces Completion of Oversubscribed Rights Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, March 12, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nRights Offering oversubscribed by 39%\n\n\n\nMISSISSAUGA, ON, March 12, 2018 /CNW/ - Crescita Therapeutics Inc. (TSX: CTX) (\"Crescita\") today announced that it completed its rights offering (the \"Rights Offering\") which expired at 4:00 pm (EST) on March 9, 2018. The Rights Offering will result in the issuance of the full allotment of 7,001,603 common shares of Crescita (the \"Common Shares\") at a price of $0.53 per share for gross proceeds of approximately $3.7 million.\n\n\n \n \n\n \n\"We are extremely encouraged with the overwhelming support from our shareholders in this successful rights offering. We are very excited about the future of Crescita and are looking forward to a productive year in 2018,\" said Serge Verreault, President of Crescita.\n\nAs the total number of shares subscribed for exceeded those available under the Rights Offering, Common Shares subscribed for pursuant to the additional subscription privilege will be subject to proration in accordance with the terms of the Rights Offering. The number of Common Shares to which each subscriber is entitled will be communicated to the subscriber by the rights agent (or by the subscriber's broker if the subscriber holds common shares through a brokerage account).\n\nFollowing completion of the Rights Offering, Crescita will have 21,004,809 Common Shares issued and outstanding. To the knowledge of Crescita, after reasonable inquiry, no persons became an insider of Crescita from the distribution under the Rights Offering.   \n\nBloom Burton Securities Inc. will be paid a commission equal to 1.0% of the gross subscription proceeds received by Crescita from the exercise of rights, other than those rights exercised by insiders of Crescita or in c...