- Tetra Bio-Pharma (TBP) has announced the pricing of its marketed public offering
- The company intends to issue units at a price of $0.163 for gross proceeds of up to $6.8 million
- Each unit will include one common share and one share purchase warrant
- The offering is expected to close on or about December 20, 2021
- Net proceeds will be used for clinical trials, working capital and general corporate purposes
- Tetra Bio-Pharma is a leader in cannabinoid-derived drug discovery and development
- Tetra Bio-Pharma Inc. (TBP) opened trading at C$0.16 per share
Tetra Bio-Pharma (TBP) has announced the pricing of its marketed public offering.
The company intends to issue units at a price of $0.163 for gross proceeds of up to $6.8 million. The offering is co-led by Research Capital Corporation and Echelon Wealth Partners Inc. as co-lead agents and joint bookrunners.
Each unit will include one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one share at an exercise price of $0.195 for a period of 48 months following the closing of the offering.
The company has granted the agents an over-allotment option exercisable at any time up to 30 days following the closing of the offering.
Net proceeds will be used for clinical trials, working capital and general corporate purposes.
The offering is expected to close on or about December 20, 2021. The offering is subject to the company receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.
Tetra Bio-Pharma is a leader in cannabinoid-derived drug discovery and development with an FDA and a Health Canada cleared clinical program aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers.
Tetra Bio-Pharma Inc. (TBP) opened trading at C$0.16 per share.