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Tetra Bio-Pharma Announces Up To $13.0 Million Marketed Public Offering of Units
Tetra Bio-Pharma Announces Up To $13.0 Million Marketed Public Offering of Units.
About this update from Tetra Bio-pharma Inc.
[{"type":"text","content":"\n\n\n\nTetra Bio-Pharma Announces Up To $13.0 Million Marketed Public Offering of Units\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 Up To $13.0 Million Marketed Public Offering of Units\nCanada NewsWire\nOTTAWA, ON, Dec. 1, 2021\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n OTTAWA, ON, Dec. 1, 2021 /CNW/ - Tetra Bio-Pharma Inc. (\"Tetra\" or the \"Company\") (TSX: TBP) (OTCQB: TBPMF) (FRA: JAM1), a leader in cannabinoid-derived drug discovery and development, is pleased to announce that it has entered into an agreement with Research Capital Corporation and Echelon Wealth Partners Inc., acting as co-lead agents and joint bookrunners (the \"Agents\"), in connection with a marketed public offering of units of the Company (the \"Units\") for aggregate gross proceeds of up to $13,000,000 (the \"Offering\"), at an indicative price of $0.18 per Unit, priced in the context of the market. \nEach Unit will be comprised of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant of the Company (a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share at an indicative exercise price of $0.25, priced in the context of the market, for a period of 48 months following the closing of the Offering.\nThe Company has granted the Agents an option (the \"Over-Allotment Option\") to increase the size of the Offering by up to an additional number of Units, and/or the components thereof, that in the aggregate would be equal to approximately 15% of the total number of Units to be issued under the Offering, to cover over-allotments, if any, and for market stabilization purposes, exercisable at any time and from time to time up to 30 days following the closing of the Offering.\nThe net proceeds from the Offering will be used by the Company for clinical trials, working capital and general corporate purposes.\nThe closing of the Offering is expected to occur on or about December 9, 2021 (the ...