- Tetra Bio-Pharma Inc. (TBP) announces its public offering of units for aggregate gross proceeds of $6.8 million
- Tetra has granted the agents involved an option to increase the size of the offering by up to an additional number of units
- It is to cover over-allotments, and for market stabilization purposes
- The net proceeds from the offering will be used by Tetra for clinical trials, working capital and general corporate purposes
- Tetra Bio-Pharma Inc. (TBP) is down 12.5 per cent trading at $0.14 per share as of 3:17 p.m. EST
Tetra Bio-Pharma Inc. (TBP) announces its public offering of units for aggregate gross proceeds of $6.8 million.
Each unit will be comprised of one common share of and one common share purchase warrant of Tetra.
Each warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.195 per share.
Tetra has granted the agents involved an option to increase the size of the offering by up to an additional number of units.
It is to cover over-allotments, and for market stabilization purposes, exercisable at any time and from time to time up to 30 days following the closing.
The net proceeds from the offering will be used by Tetra for clinical trials, working capital and general corporate purposes.
The closing of the offering is expected to occur by December 20, 2021.
Tetra intends to file a prospectus supplement to its short form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada, except Quebec.
Tetra’s evidence-based scientific approach has enabled the company to develop a pipeline of cannabinoid-based drug products.
It is intended for a range of medical conditions, including pain, inflammation, and oncology.
Tetra is focused on providing scientific validation and safety data required for inclusion into the existing biopharma industry by regulators, physicians, and insurance companies.
Tetra Bio-Pharma Inc. (TBP) is down 12.5 per cent trading at $0.14 per share as of 3:17 p.m. EST.
