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Tetra Bio-Pharma Inc. Announces $10 Million Bought Deal Offering of Units
Tetra Bio-Pharma Inc. Announces $10 Million Bought Deal Offering of Units.
About this update from Tetra Bio-pharma Inc.
[{"type":"text","content":"\n\n\n\nTetra Bio-Pharma Inc. Announces $10 Million Bought Deal 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 Inc. Announces $10 Million Bought Deal Offering of Units\nCanada NewsWire\nOTTAWA, ON, Feb. 22, 2021\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n OTTAWA, ON, Feb. 22, 2021 /CNW/ - Tetra Bio-Pharma Inc. (\"Tetra Bio-Pharma\" or the \"Company\") (TSX: TBP) (OTCQB: TBPMF), a biopharmaceutical pioneer in immunomodulator drug discovery and development, is pleased to announce that is has entered into an agreement with Canaccord Genuity Corp. and Leede Jones Gable Inc. (together, the \"Underwriters\") pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 45,500,000 units of the Company (the \"Equity Units\") at a price of $0.22 per Equity Unit for gross proceeds to the Company of $10,010,000 (the \"Offering\"). \nEach Equity Unit will consist of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.28 (the \"Exercise Price\") at any time up to 36 months following Closing (as defined below). \nThe Company has granted the Underwriters an option (the \"Over-Allotment Option\"), exercisable in part or in whole at the Underwriters' sole discretion, at any time beginning on the closing of the Offering until 30 days following the closing of the Offering, to purchase up to that number of additional Equity Units, Common Shares or Warrants, or any combination thereof, as is equal to 15% of the aggregate number of Equity Units sold in the Offering to cover over-allotments, if any.\nThe Equity Units will be offered (i) in each of the provinces of Canada (other than Québec) pursuant to the Company's base shelf prospectus dated April 1, 2020 (the \"Base Prospectus\"), (ii) in the United States (as such terms are defined in Rule 144A under the U.S. Securities Act of 1933, as ame...