IntelGenx Announces Pricing of $12 Million Equity Offering

IntelGenx Technologies (TSXV:IGX) (OTCQX:IGXT) announced today the pricing of an agency offering of 17,144,314 units for gross proceeds of approximately US$12,000,000 million at a price of US$0.70 per Unit.

As quoted in the press release:

Each Unit will consist of one share of common stock of the Company (an “Offered Share”) and one half of one warrant (a “Warrant”) each whole Warrant to purchase one share of common stock of the Company at an exercise price of US$1.00 per share (a “Warrant Share”). The Warrants will be exercisable immediately and will expire on the third anniversary of the date of their issuance.

The Offering is made on a best efforts basis in the United States and the Canadian provinces of British Columbia, Alberta, Manitoba, Ontario and Québec. H.C. Wainwright & Co. (“Wainwright”) is acting as the exclusive agent for the Units offered in the United States. Echelon Wealth Partners Inc. (“Echelon”) is acting as the exclusive placement agent for the Units offered in Canada.

Click here to read the full press release.