- LexaGene Holdings (LXG) has announced its intention to amend the exercise price of certain common share purchase warrants
- The share purchase warrants were originally issued on October 29, 2019
- A total of 12,769,626 warrants were initially issued with an exercise price of C$0.75 per common share of LexaGene in connection with a public offering of units
- The company intends to amend the exercise price of unexercised warrants to C$0.23 per common share
- LexaGene Holdings Inc. is a molecular diagnostics company that has commercialized the MiQLab System for fast and easy detection of pathogens and other molecular markers
- Lexagene Holdings Inc. opened trading at $0.21 per share
LexaGene Holdings (LXG) has announced its intention to amend the exercise price of certain common share purchase warrants.
The share purchase warrants were originally issued on October 29, 2019.
A total of 12,769,626 warrants were initially issued with an exercise price of C$0.75 per common share of LexaGene in connection with a public offering of units.
The company intends to amend the exercise price of unexercised warrants to C$0.23 per common share.
The company also intends to extend the expiry date of the warrants to November 28, 2022. All other terms of the warrant remain the same.
Insiders of the company presently hold 2.4 per cent of the warrants.
In accordance with TSX Venture Exchange policies, the terms of the warrants held by insiders will be amended on a pro-rata basis, such that insiders can hold no more than 10 per cent of the amended warrants.
Amendment of the warrants is subject to the approval of the TSX Venture Exchange.
No action will be required on the part of the holders of the warrants to give effect to the amendments.
LexaGene Holdings Inc. is a molecular diagnostics company that has commercialized the MiQLab System for fast and easy detection of pathogens and other molecular markers.
Lexagene Holdings Inc. opened trading at $0.21 per share.
