DataWind Enters Into Bought-Deal Agreement with Haywood Securities

DataWind Inc. (TSX:DW) enters into a bought-deal agreement with Haywood Securities Inc. The agreement covers the issuance of 1.3 million units on a bought-deal basis, at a price of $2 per unit. Gross proceeds will equal $2.6-million.
According to the press release:

Each Unit will consist of one common share in the capital of the Company (a “Common Share”) and one half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) of the Company. Each Warrant will entitle the holder to acquire one Common Share (a “Warrant Share”) at a price of $2.80 for a period of 12 months from the closing date.
The Underwriter will have the option to purchase up to an additional 195,000 Units at the Issue Price at any time prior to 30 days following the closing date for additional gross proceeds of up to $390,000.
The net proceeds from the Offering will be used for working capital and general corporate purposes.
The Units will be offered by way of a short form prospectus in each of the provinces of Canada, other than the Province of Quebec, and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

Click here to read the full press release.