- Aurora Spine Corporation has closed its private placement for gross proceeds of C$6,508,139.40
- The company issued 11,220,930 common shares and warrants to purchase up to 8,415,697 common shares at a combined purchase price of C$0.58
- The net proceeds of the offering are expected to be used for sales, marketing, research and development
- A.G.P./Alliance Global Partners acted as the exclusive placement agent for the placement in the United States
- No securities were sold in Canada
- Aurora Spine is focused on developing innovative, minimally invasive, regenerative spinal implant technologies
- Aurora Spine Corporation (ASG) is currently trading at $0.67 per share
Aurora Spine Corporation (ASG) has closed its previously announced private placement for gross proceeds of $6,508,139.40.
The company issued 11,220,930 common shares and warrants to purchase up to 8,415,697 common shares at a combined purchase price of C$0.58. Each warrant entitles the holder to purchase one share at a price of C$0.75 at any time up to three years after the closing date of the offering.
All necessary regulatory and stock exchange approvals have been received.
The net proceeds of the offering are expected to be used for sales, marketing, research and development and working capital requirements.
A.G.P./Alliance Global Partners acted as the exclusive placement agent for the placement in the United States. The company paid a cash commission of $455,569.76 being 7 per cent of the proceeds from the common shares and $341,677.30 being 7 per cent of the proceeds received from the exercise of Common Warrants. Aurora also issued 561,047 broker warrants.
In the United States, the common shares, warrants and the shares issued upon the exercise of the warrants were offered on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act, and certain other jurisdictions in accordance with applicable securities laws.
No securities were offered for sale or sold in Canada.
Aurora Spine is focused on bringing new solutions to the spinal implant market through a series of innovative, minimally invasive, regenerative spinal implant technologies.
Aurora Spine Corporation (ASG) is currently trading at $0.67 per share.