Aug 2- Private Placement News via PPM.co–The impact of geo-political news, whether the topic is Brexit, Trump, global macro events, the price of WTI, currency fluctuation or even regulatory changes in various countries is having little impact on the health of the private placement industry. Deals are being successfully placed, up-sized and warmly embraced by investors from British Columbia to Budapest, from India to Israel, from Chicago to China, and all points in-between. Miners, Bio-Tech, Pharma and Fintech issuers, as well as fast-growing startups across multiple other industry sectors are pegging the opportunity to raise capital from qualified investors via equity, debt, subordinated debt and convertible preferred structures and there have been multiple Regulation S / 144a deals announced in the past several days alone. And, these capital raises do not include the fast-growing activity across the equity crowdfund space.
To illustrate the private placement activity, below is a selection of company announcements and private placement news releases published in the past two days.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug 2, 2016) – Candente Copper Corp. (DNT.TO)(DNT.TO) (“Company”) is pleased to report completion of its previously announced and oversubscribed non-brokered private placement (see Company’s News Releases No. 080, 081 and 082 dated July 11th, 12th, and 19th, 2016) (the “Private Placement”) raising $1,073,380.
In closing, the Company has issued 11,370,844 units (“Units”) at a price of $0.09 per Unit. Each Unit comprises one common share of the Company and one-half of a share purchase warrant, with each whole share purchase warrant being exercisable for 2 years to purchase an additional common share at a price of $0.15 per share, subject to an acceleration provision. If at any time after November 30th, 2016, the Company’s common shares have a closing price on the TSX Exchange at or above a price of $0.30 per share for a period of 10 consecutive trading days, the Company may give notice by News Release that expiration of the warrants will be accelerated to 40 days from the date of providing such notice. All shares will be subject to a four month hold period.
Aug 02, 2016 (TheNewswire.ca via COMTEX) — (via Thenewswire.ca)
Vancouver, BC / TheNewswire / August 2, 2016 – Cariboo Rose Resources Ltd. (CRB) (“Cariboo Rose”) has completed a private placement, which was oversubscribed, for the sale of 2,858,889 units at a price of $0.09 per unit (each unit comprising one flow-through common share and one warrant for the purchase of one additional non-flow-through common share at a price of $0.12 per share for a term of one year from the date of TSX-V approval of the private placement). All the securities issued in the private placement are subject to a four month hold period.
Gross proceeds of the offering was $257,300.01.
The Company will pay a commission of 7% of the value of the placement payable in shares for some of the proceeds.
The proceeds of the offering shall be applied to exploration at the company’s 100% owned Canadian Creek gold project in the Yukon where a program is currently underway.
Cariboo Rose Resources is a prospect generating mineral exploration company with seven gold, copper and molybdenum exploration projects in British Columbia and the Yukon. Cariboo Rose trades on the TSX Venture exchange under the symbol “CRB”.
Interleukin Genetics, Inc. Announces $5.6 Million Private Placement Financing
GlobeNewswire•August 1, 2016
WALTHAM, Mass., Aug. 01, 2016 (GLOBE NEWSWIRE) — Interleukin Genetics, Inc. (ILIU), a life sciences company focused on developing and marketing proprietary genetic tests for chronic diseases and health-related conditions, announced today that it has entered into an agreement with various accredited and institutional investors to raise gross proceeds of approximately $5.6 million in a private placement financing. The syndicate is composed of existing investors, including two leading life sciences investment firms, Bay City Capital and New Enterprise Associates (NEA), and Pyxis Innovations Inc., an affiliate of Alticor Inc. (parent company to Amway Corporation), and broad participation among the management team.
The investment in Interleukin Genetics consists of the sale and issuance of 56,262,571 shares of common stock at a price per share of $0.0994, as well as warrants to purchase up to an aggregate of 56,262,571 shares of common stock. The warrants have a term of seven years and an exercise price of $0.0994 per share.
Net proceeds from the private placement will be used primarily to accelerate commercialization of the Company’s proprietary genetic tests, including PerioPredict®, which identifies genetic variations that increase the risk for severe periodontal disease, and for general corporate and working capital purposes.
NovaBay Pharmaceuticals Completes $11.8 Million Private Placement
August 02, 2016 06:50 AM Eastern Daylight Time
EMERYVILLE, Calif.–(BUSINESS WIRE)–NovaBay® Pharmaceuticals, Inc. (NYSE MKT: NBY), a biopharmaceutical company focusing on commercializing prescription Avenova® lid and lash hygiene for the domestic eye care market, announces the closing of a $4.0 million tranche of a previously-announced private placement of common stock and warrants to accredited investors, bringing total proceeds to $11.791 million. The first tranche of the private placement with proceeds of $7.791 million was completed in May 2016.
In the two tranches, investors purchased an aggregate 6,173,299 shares of NovaBay common stock and warrants exercisable for 3,086,651 shares of NovaBay common stock at a purchase price of $1.91 per unit. The warrants have a four-year term from the date of issuance, an exercise price of $1.91 per share and are callable by NovaBay if the closing price of its common stock as reported by the NYSE MKT is $4.00 per share or greater for five consecutive trading days. Should all warrants be exercised, gross proceeds will total approximately $5.9 million, and the total amount raised in this financing will be nearly $18 million.
Investors participating in the private placement include current stockholders Mr. Jian Ping Fu and Pioneer Pharma (Singapore) Pte. Ltd. Pioneer Pharma (Singapore) Pte. Ltd., together with its affiliates, is NovaBay’s largest shareholder. China Kington Asset Management Co. Ltd. acted as the sole placement agent for the sales to Mr. Fu, Pioneer Pharma (Singapore) Pte. Ltd. and three other investors. NovaBay’s Chairman, President and CEO Mark M. Sieczkarek, as well as other accredited investors, also participated in the private placement.
Mumbai, India–ICICI Lombard announces private placement of subordinated debt
ICICI Lombard General Insurance has announced the successful private placement of 4,850 unsecured, subordinated, fully paid-up, listed, redeemable, non-convertible debentures having face value of Rs 10,00,000 each (the NCDs), at par, aggregating to Rs 485 crore. This is at an interest rate of 8.25 per cent per annum and a maturity period of 10 years. This is the first issuance ofsubordinated debt by an insurance company in India.
Bhargav Dasgupta, MD & CEO, ICICI Lombard General Insurance said, “We are excited to be the first insurance company to have augmented our capital base by issuing subordinated debt, post the recent measures announced by the Insurance Regulatory and Development Authority of India (IRDAI), allowing alternative forms of capital. The successful closure of the issue is a testimony to shareholder confidence in the franchise.”
ICICI Lombard in a statement said that to further strengthen the companys efforts, it had decided to raise capital through the issuance of NCDs. The funds raised through this issue would be used for further strengthening the Companys solvency by way of augmenting its capital under Other Forms of Capital and thereby facilitate business growth.