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Annidis Corp Closes $5,000,000 Private Placement Financing


Friday, 4 Oct 2013 08:30am EDT 

Annidis Corp announced that it has closed its previously announced $5,000,000 private placement of common shares (the Financing) with Yimai Technology International Company Limited (YIMAI), a Hong Kong company that markets and distributes ophthalmology products in China. The Financing consisted of the issuance of an aggregate of 27,965,379 common shares to YIMAI for total consideration of $5,000,000. All common shares issued pursuant to the Financing are subject to a statutory hold period of four months and one day from the date of closing. Of these 27,965,379 common shares, 7,132,046 will be held in escrow by Annidis (the Escrowed Shares) and will be released to YIMAI on the basis of one Escrowed Share for each (approximately) 3.26 common shares which are issued upon exercise of certain of the Company's other outstanding convertible securities (the Convertible Securities) on or before September 30, 2016. 

Company Quote

0.28
0.0050 +1.82%
15 Sep 2014