ImmunoPrecise Antibodies boosts private placement to $700,000; shares rise

Proceeds will be used to expand operations and sales in the US, Canada and Europe
ImmunoPrecise Antibodies boosts private placement to $700,000; shares rise
Immunoprecise recently opened its new US headquarters in Fargo, North Dakota

Immunoprecise Antibodies Ltd. (CVE:IPA) announced Wednesday that it has upped its non-brokered private placement financing to 875,000 units of Immunoprecise at a price of C$0.80 per unit to shore up $700,000 of capital. Previously, the company announced plans to sell up to 750,000 units at a price of C$0.80 per unit.

Markets responded favourably to the news, with shares of ImmunoPrecise up 15.05% at C$1.07 on Wednesday.

Proceeds of the placement will be used to expand operations and sales in the United States, Canada and Europe.

READ: Immunoprecise Antibodies' new Fargo headquarters means it can take advantage of a diverse economy

According to the terms of the agreement, each unit will consist of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional share at a price of $1 for a period of one year from the date of issue.

The company said it will have the right to accelerate the expiry date of the warrants provided that ImmunoPrecise's volume-weighted average price trades at C$1.50 for a period of 20 consecutive days.

In such an event, the expiry date will be accelerated to a date that is 30 days after ImmunoPrecise issues a news release announcing that it has elected to exercise this acceleration right.

Immunoprecise is a full-service, therapeutic antibody discovery company, which operates facilities located at the Vancouver Island Technology Park in Victoria, British Columbia. The company specializes in the production of monoclonal antibodies used in a range of research from Alzheimer’s disease to aquaculture.

Recently, the company opened its new US headquarters in Fargo, North Dakota, with an aim that it will allow the company to tap into a large investor community.

View full IPA profile View Profile

Immunoprecise Antibodies Ltd Timeline

Related Articles

affimer technology
May 01 2018
The company is making progress with its lead immuno-oncology programmes
test tubes
January 22 2018
Under former chief executive Peter George and his successor Shaun Chilton, it has been transformed via a series of well-judged, quickly integrated and, crucially, cash generative acquisitions
1519933435_to-conceive-pic.jpg
March 01 2018
The health and wellbeing group, which has a broad product portfolio, had an eventful 2017,

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © 2ndrangers.us, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated.