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NeuPath Health Inc. Announces Increase to Bought Deal Financing to $10.4 Million
NeuPath Health Inc. Announces Increase to Bought Deal Financing to $10.4 Million ...
About this update from Neupath Health Inc.
[{"type":"text","content":"\n \n \n \n NeuPath Health Inc. Announces Increase to Bought Deal Financing to $10.4 Million\n \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 Canada NewsWire\n \n \n TORONTO, Oct. 20, 2020\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n TORONTO\n \n ,\n \n Oct. 20, 2020\n \n /CNW/ - NeuPath Health Inc. (TSX-V:NPTH) (\"NeuPath\" or the \"Company\"),\n \n Canada's\n \n largest provider of chronic pain management services, is pleased to announce that it has agreed with Stifel GMP as co-lead underwriter and sole bookrunner and INFOR Financial Inc. as co-lead underwriter, together with Haywood Securities Inc. (collectively, the \"Underwriters\"), to increase the size of its previously announced\n \n $8,001,000\n \n bought deal offering. Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a \"bought deal\" basis, 11,600,000 units of the Company (the \"Units\") at a price of\n \n $0.90\n \n per Unit, for aggregate gross proceeds of\n \n $10,440,000\n \n .  The Underwriters will also have the option, exercisable in whole or in part at any time on or up to 30 days after the Closing Date (as defined herein), to purchase up to an additional 1,740,000 Units. In the event that the option is exercised in full, the aggregate gross proceeds of the offering will be\n \n $12,006,000\n \n .\n \n \n Each Unit will be comprised of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a \"Warrant\"). Each Warrant will be exercisable to acquire one Common Share (a \"Warrant Share\") for a period of 24 months following the Closing Date at an exercise price of\n \n $1.25\n \n per Warrant Share.\n \n \n In the event that the volume weighted average trading price of the Common Shares for any twenty (20) consecutive trading days on the TSX Venture Exchange (the \"TSXV\") exceeds\n \n $1.75\n \n , the Company shall have the right to acc...