The Conversation (0)
Resverlogix (TSX:RVX) has closed a $15 million offering of approximately 3.8 million units sold at $4 each. As quoted in the press release: Each warrant is exercisable at a price of $4.60 per underlying common share for a period of 4 years from the closing of the Offering. The warrants are listed for trading on …
Resverlogix (TSX:RVX) has closed a $15 million offering of approximately 3.8 million units sold at $4 each.
As quoted in the press release:
Each warrant is exercisable at a price of $4.60 per underlying common share for a period of 4 years from the closing of the Offering. The warrants are listed for trading on the Toronto Stock Exchange under the symbol RVX.WT.A.
The marketed portion of the Offering was conducted by Bloom Burton Securities Inc. (the “Agent”). H.C. Wainwright & Co. acted as exclusive U.S. placement agent.
After the completion of the offering, Resverlogix has 204,154,455 common shares issued and outstanding.
The net proceeds of the Offering will be used to fund research and development activities, including clinical trial activities related to the Company’s Phase 3 BETonMACE trial, repayment of indebtedness, general and administrative expenses, working capital needs and other general corporate purposes.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold to, or for the account or benefit of, persons in the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act), except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s securities to, or for the account or benefit of, persons in the United States or U.S. Persons.