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Opsens Inc announces receipt for final short form prospectus

Monday, 10 Feb 2014 05:03pm EST 

Opsens Inc:Obtains a receipt for its final short form prospectus for its offering of 6,164,300 common shares of the company at a price of $0.73 per common share for aggregate gross proceeds of $4.5 mln and 4,666,800 units of the company at a price of $0.75 per Unit for aggregate gross proceeds of $3.5 mln.Says offering is being conducted by a syndicate of underwriters led by RBC Capital Markets and including Paradigm Capital Inc.Each unit consists of one common share in the stock of Opsens and one-half of one common share purchase warrant, with each whole common share purchase warrant entitling the holder thereof to purchase one common share at a price of $1.05 within 24 months from the initial closing date of the offering.Grants the underwriters an option to cover over-allotments and for market stabilization purposes, which will allow the Underwriters to purchase up to an additional 1,624,645 Common Shares and up to an additional 350,010 common share purchase warrants.Says over allotment option may be exercised at any time up to 30 days following the closing of the offering.Intends to use the net proceeds of the Offering to prepare the commercialization and marketing strategy of its fractional flow reserve (FFR) products, to fund research and product development and to fund its working capital.Says offering is expected to close on or about Feb. 18, 2014 and is subject to certain customary conditions and regulatory approvals. 

Company Quote

1 May 2015