- Kovo HealthTech (KOVO) has announced unit pricing for a brokered private placement
- The company will issue up to 6,250,000 units at a price of C$0.40 per unit for gross proceeds of up to $2.5 million
- The company has granted Research Capital, the agent, an over-allotment option
- The warrants may be subject to an early expiration
- Kovo is a leader in healthcare technology and Revenue Cycle Management software and services
- Kovo HealthTech Corporation (KOVO) opened trading at C$0.48 per share
Kovo HealthTech (KOVO) has announced unit pricing for a previously announced brokered private placement for gross proceeds of up to $2.5 million.
The company will issue up to 6,250,000 units at a price of C$0.40 per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to acquire one common share at a price of C$0.70 for a period of 24 months from the closing date of the offering.
Research Capital Corporation will act as the agent and sole bookrunner for the offering. The company has granted Research Capital an option to increase the size of the offering by up to 20 per cent. If the agent’s option is exercised in full, the company will issue a total of 7,500,000 units, for total gross proceeds of C$3,000,000.
The net proceeds of the offering are expected to be used for working capital requirements and funding future acquisitions.
The company will pay a cash commission and broker warrants equal to 7.5 per cent of the number of units sold under the offering to the agent.
The warrants will be subject to early expiration if, at any time prior to the expiry date, the volume-weighted average trading price of the shares on the TSX Venture Exchange is greater than C$1.00 for 10 consecutive trading days.
The securities will be subject to applicable hold periods imposed under applicable securities legislation, including a hold period of four months and one day from the date of issuance.
Kovo is a leader in healthcare technology and Revenue Cycle Management software and services.
Kovo HealthTech Corporation (KOVO) opened trading at C$0.48 per share.
