Business
Imaging Dynamics Company Ltd. Announces Filing of (Final) Short Form Prospectus
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES/ CALGARY, May 7 /CNW/ - I...
About this update from Imaging Dynamics Company, Ltd.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES/\n\n\nCALGARY, May 7 /CNW/ - Imaging Dynamics Company Ltd. ("IDC" or the\n"Corporation") (TSX: IDL), a healthcare technology company that develops and\nmarkets digital X-ray imaging systems, is pleased to announce that it has\nfiled a (final) short form prospectus in respect of a public offering (the\n"Offering") of units (the "Units") of the Corporation, each Unit consisting of\none common share (a "Common Share") in the capital of the Corporation and one\ntransferable Common Share purchase warrant (a "Warrant"). Each Warrant is\nexercisable into one Common Share at an exercise price of $0.40 per Common\nShare, subject to adjustment in certain events, at any time on or before 4:30\np.m. (Calgary time) on the date (the "First Exercise Date") that is 12 months\nafter the date of closing of the Offering (the "Closing Date") and at an\nexercise price of $0.50 per Common Share, subject to adjustment in certain\nevents, at any time from 4:30 p.m. (Calgary Time) on the First Exercise Date\nuntil 4:30 p.m. (Calgary time) on the date that is 24 months after the Closing\nDate. The Units will separate into Common Shares and Warrants immediately upon\nissue.\n\n\nThe Offering will be led by Paradigm Capital Inc. and will include\nJennings Capital Inc. (collectively, the "Agents") to offer a minimum of\n23,880,598 Units and a maximum of 32,835,820 Units on a fully marketed,\nbest-efforts basis at a price of $0.335 per Unit (the "Offering Price") for\ntotal gross proceeds of $8,000,000 if the minimum offering is subscribed for\nand $11,000,000 if the maximum offering is subscribed for.\n\n\nThe Corporation has agreed to grant to the Agents an over-allotment\noption, exercisable in whole or in part in the sole discretion of the Agents\nat any time or from time to time until that date which is 30 days after the\nClosing Date, to purchase at the Offering Price that number of additional\nUnits (the "Over-allotment Units") equal to up to 15% of the number of Units\nsold under the Offering.\n\n\nThe Corporation has agreed to pay a fee equal to 6% of the gross proceeds\nof the Offering to the Agents in connection with the sale of the Units and the\nOver-allotmen...