Analyst Research

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Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: PI Financial Corp

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Spectra7 Microsystems Inc completes private placement

Thursday, 12 Dec 2013 09:30am EST 

Spectra7 Microsystems Inc:Says it has closed its previously announced fully marketed brokered private placement, issuing 6,111,418 common shares of the company at a price of $0.55 per Common Share for gross proceeds of about $3.36 million.Says the Offering was led by Paradigm Capital Inc. and included Cormark Securities Inc. (collectively, the Agents) and PI Financial Inc. acting as a strategic selling group.Says in connection with the Offering, the Agents received a cash commission of up to 6 pct of the gross proceeds of the Offering, and the Agents received non-transferable compensation options to acquire up to 8 pct of the number of Common Shares sold pursuant to the Offering.Says each Compensation Option is exercisable into one Common Share at a price of $0.55 per share for a period of 24 months from the closing date.Says all securities issued pursuant to the Offering are subject to a statutory hold period which expires on Apr. 13, 2014.Says proceeds from the Offering will be used to continue building out Spectra7's product portfolio, and for general corporate and working capital purposes. 

Company Quote

0.02 +2.99%
3:59pm EDT