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Tetra Bio-Pharma Announces $10.0 Million Bought Deal Offering
Tetra Bio-Pharma Announces $10.0 Million Bought Deal Offering.
About this update from Tetra Bio-pharma Inc.
[{"type":"text","content":"\n\n\n\nTetra Bio-Pharma Announces $10.0 Million Bought Deal 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\nTetra Bio-Pharma Announces $10.0 Million Bought Deal Offering\nCanada NewsWire\nOTTAWA, Jan. 21, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES/\n OTTAWA, Jan. 21, 2020 /CNW/ - Tetra Bio-Pharma Inc. (TSXV:TBP) (\"Tetra\" or \"TBP\") is pleased to announce that it has entered into an agreement with Echelon Wealth Partners Inc. (\"Echelon\"), pursuant to which Echelon has agreed to purchase, on a bought deal basis, 18,868,000 units (the \"Units\") of the Company at a price of C$0.53 per Unit (the \"Issue Price\") for gross proceeds of approximately $10.0 million (the \"Offering\"). \n\n \n \n\n \nEach Unit will consist of one common share of the Company (each a \"Common Share\") and one common share purchase warrant (each, a \"Warrant\" and collectively the \"Warrants\"). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of C$0.75 for a period of 36 months from the closing date of the Offering. \nThe Offering will be conducted by Echelon as sole underwriter and bookrunner. The Company has granted Echelon an option to purchase up to an additional 15% of the Units sold under the Offering, at the Issue Price. The Over-Allotment Option may be exercised in whole or in part to purchase Shares, Warrants or Units as determined by Echelon upon written notice to the Company at any time up to 30 days following the closing date of the Offering (the \"Over-Allotment Option\").\nThe Company intends to use the net proceeds of the Offering for working capital and general corporate purposes.\nThe Offering will be completed (i) by way of a short form prospectus to be filed in all of the provinces and territories of Canada other than Quebec, (ii) on a private placement basis in the United States pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") and ...