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Hollister Biosciences Inc. $HOLL.ca $HSTRF Announces an Increase in Private Placement to $6.5 Million $CRON $GTBIF $INDS $META.ca $FAF.ca $WEED.ca

Posted by AGORACOM-JC at 12:46 PM on Thursday, January 21st, 2021
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  • Announced that it has entered into an amended letter of engagement with Eight Capital, pursuant to which Eight Capital, acting as sole bookrunner and lead agent, has now agreed to offer for sale, together with a syndicate of agents 17,810,000 Special Warrants of the Company on a “best efforts” private placement basis, subject to all required regulatory approvals, at a price per Special Warrant of $0.365 for total gross proceeds of up to $6,500,650
  • Each Special Warrant shall be automatically exercisable into units of the Company, as described below. Each Unit shall consist of one common share of the Company and one-half of one common share purchase warrant

VANCOUVER, British Columbia, Jan. 21, 2021 — Hollister Biosciences Inc. (CSE:HOLL, OTC:HSTRF, FRANKFURT:HOB) (“ Hollister ” or the “ Company ”) is pleased to announce that it has entered into an amended letter of engagement with Eight Capital, pursuant to which Eight Capital, acting as sole bookrunner and lead agent, has now agreed to offer for sale, together with a syndicate of agents (together with Eight Capital, the “ Agents ”), 17,810,000 Special Warrants of the Company (the “ Special Warrants ”), on a “best efforts” private placement basis, subject to all required regulatory approvals, at a price per Special Warrant of $0.365 (the “ Issue Price ”) for total gross proceeds of up to $6,500,650 (the “ Offering ”).

Each Special Warrant shall be automatically exercisable into units of the Company (the “ Units ”), as described below. Each Unit shall consist of one common share of the Company (a “ Share ”) and one-half of one common share purchase warrant (each full warrant, a “ Warrant ”). Each Warrant shall entitle the holder thereof to acquire one Share at a price of $0.50 per Share for a period of 46 months following the Closing Date.

Each Special Warrant shall be automatically exercisable, for no additional consideration, into Units on the date (the “ Automatic Exercise Date ”) that is the earlier of: (i) the date that is three business days following the date on which the Company either (A) obtains a receipt from the applicable securities regulatory authorities (the “ Securities Commissions ”) for a (final) short form prospectus qualifying distribution of the Units underlying the Special Warrants (the “ Qualifying Prospectus ”); or (B) files a supplement to a (final) short form base shelf prospectus qualifying the distribution of the Units underlying the Special Warrants (the “ Qualifying Supplement ”), and (ii) the date that is four months and one day after the Closing of the Offering.

Read More: https://agoracom.com/ir/HollisterBiosciences/forums/discussion/topics/753581-hollister-biosciences-inc-announces-an-increase-in-private-placement-to-6-5-million/messages/2299280#message

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