Business
Ventripoint Diagnostics Ltd. Announces Closing of Upsized Bought Deal Offering of Units
(TheNewswire) Toronto, Canada – TheNewswire - October 20, ...
About this update from Ventripoint Diagnostics Ltd.
[{"type":"text","content":"Ventripoint Diagnostics Ltd. Announces Closing of Upsized Bought Deal Offering of Units\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n Toronto, Canada –\n \n \n TheNewswire -\n \n \n October 20,\n2021 – Ventripoint Diagnostics Ltd. (“\n \n \n Ventripoint\n \n \n ” or the\n“\n \n \n Company\n \n \n ”) (TSXV:VPT\n \n \n )\n \n \n ,\n \n \n (\n \n \n OTC:VPTDF), is pleased to\nannounce that has closed its previously announced upsized bought-deal\npublic offering (the “\n \n \n Offering\n \n \n ”) including full exercise of the\nover-allotment option.\n \n \n \n \n \n \n The co-lead bookrunners\nand underwriters of the Offering, Leede Jones Gable Inc. and Stifel\nGMP (the “\n \n \n Underwriters\n \n \n ”), have purchased the full\nOffering for a total of 15,490,500 (“\n \n \n Units\n \n \n ”), at a price\nof $0.52 per Unit for aggregate gross proceeds of $\n \n \n 8,055,060.\n \n \n \n \n \n \n Each Unit consists of\n \n \n one\n \n \n common share of the\nCompany (a “\n \n \n Common\nShare\n \n \n ”) and\n \n \n one\n \n \n Common Share purchase warrant (each whole purchase\nwarrant, a “\n \n \n Warrant\n \n \n ”).  Each Warrant will entitle the\nholder thereof to purchase one Common Share at an exercise price of\n$\n \n \n 0.70\n \n \n (the “\n \n \n Exercise Price\n \n \n ”) at\nany time up to\n \n \n 60\n \n \n m\n \n \n onths following Closing (as defined below). In\nthe event that the volume weighted average trading price of the Common\nShares for ten (10) consecutive trading days exceeds $1.00, the\nCompany may, within 10 business days of the occurrence of such event,\ndeliver a notice (including a press release) to the holders of\nWarrants accelerating the expiry date of the Warrants to the date that\nis 30 days following the date of such notice.\n \n \n \n \n \n \n The Company paid the\nUnderwriters a cash commission of $535,774 and has issued 1,030,335\ncompensation options (the “\n \n \n Compensation Options\n \n \n ”). Each Compensation\nOption is exercisable for one Unit at $0.52 per Unit for a period of\n60 months following the closing of the Offering.\n \n \n \n \n \n \n Company will use\nproceeds of the Offering for product design and development,\ncommercialization, ...