Business
Imaging Dynamics Company Ltd. Announces Filing of Preliminary Short Form Prospectus
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES/ CALGARY, April 25 /CNW/ ...
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, April 25 /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 preliminary 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 120% of the Offering\nPrice (as defined below), subject to adjustment in certain events, at any time\non or before 4:30 p.m. (Calgary time) on the date (the "First Exercise Date")\nthat is 12 months after the date of closing of the Offering (the "Closing\nDate") and at an exercise price of 150% of the Offering Price (as defined\nbelow), subject to adjustment in certain events, at any time from the First\nExercise Date until 4:30 p.m. (Calgary time) on the date that is 24 months\nafter the Closing Date. The Units will separate into Common Shares and\nWarrants immediately upon issue.\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\n$8,000,000 and a maximum of $11,000,000 of Units for sale on a fully marketed,\nbest-efforts basis with pricing of the Offering (the "Offering Price") to be\ndetermined in the context of the market.\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-allotment Units. The Corporation has also agreed to grant to the Agents...