Basel Medical Group closes registered direct offering, raises gross proceeds of US$7.98 million
BMGL•Basel Medical Group closed a registered direct offering of 6 million units at US$1.33 each, raising US$7.98 million gross and an estimated US$7.28 million net.
1. Offering details
The units each consist of one ordinary share and one Common Warrant to buy one ordinary share. The warrants are immediately exercisable at 110% of the unit price and expire five years after issuance. Basel Medical Group said it plans to use the net proceeds for working capital, M&A and general corporate purposes. Following the offering, 7,582,111 shares and 6 million Common Warrants were outstanding.
