The company announced the pricing of its Class A Common stock at a price of C$0.35 per share for 4.8 million shares for C$1.7 million.
Helius Medical (NASDAQ:HSDT, TSX:HDM) has announced it has priced its previously announced public offering of over 4.8 million of its Class A common stock at $0.35 per share.
As quoted in the press release:
The gross proceeds to Helius from this offering are expected to be approximately $1.7 million, before deducting underwriting discounts and commissions and estimated offering expenses. All of the securities in the offering will be sold by Helius. The offering is expected to close on or about November 26, 2019, subject to customary closing conditions including the approval of the Toronto Stock Exchange.
H.C. Wainwright & Co. is acting as sole book-running manager for the offering. Haywood Securities Inc. is acting as co-manager for the offering.
The offering is being made by means of written prospectuses and prospectus supplements that form part of Helius’ existing Canadian MJDS short form base shelf prospectus dated January 26, 2017, in Canada, and effective U.S. shelf registration statement on Form S-3 dated January 6, 2017, in the United States. Preliminary prospectus supplements and the accompanying prospectuses have been filed with the securities regulatory authorities in all provinces of Canada pursuant to the Multijurisdictional Disclosure System, and with the Securities and Exchange Commission (the “SEC”) in the United States. Copies of these documents are available, and the final prospectus supplements and the accompanying prospectuses will be available, on the Company’s profiles on the SEDAR website maintained by the Canadian Securities Administrators at www.sedar.com or the SEC’s website at www.sec.gov, as applicable. Alternatively, when available, electronic copies of the final prospectus supplements and the accompanying prospectuses may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by calling (646) 975-6996 or emailing email@example.com.
The offering is subject to regulatory approval. In respect of the offering, the Company intends to rely on the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the Toronto Stock Exchange will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as the Nasdaq.