Intelgenx Technologies Corp: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Provider: Wright Reports
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IntelGenx Technologies Corp announces public offering of $3,500,000 of Common Stock
IntelGenx Technologies Corp:Says it has entered into definitive agreements with institutional investors to purchase approximately $3.5 million of securities in a registered public offering.Says IntelGenx has agreed to sell to institutional investors an aggregate of 7,920,346 shares of its common stock at $0.4419 per share.Says additionally, investors will receive warrants to purchase up to 7,920,346 shares of common stock at an exercise price of $0.5646 per share for a term of five years.Says gross proceeds of the offering are expected to be approximately $3.5 million.Says net proceeds, after deducting the placement agent's fee and other estimated offering expenses payable by IntelGenx, are expected to be approximately $3.14 million.Says IntelGenx intends to use proceeds from the offering for capital investment in VersaFilm manufacturing equipment, manufacturing facility improvements and general corporate purposes.Says H.C. Wainwright & Co., LLC acted as the exclusive placement agent for the transaction.Says the offering is expected to close on or about Dec.16.
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