Basel Medical Group issues 6 million share purchase warrants in $7.98 million offering
BMGL•Basel Medical Group priced a registered direct offering of 6 million units at $1.33 each, for gross proceeds of $7.98 million; each unit includes an ordinary share or pre-funded warrant and a common warrant.
1. Offering terms
The common warrants are immediately exercisable at 110% of the unit price and expire five years after issuance. Pre-funded warrants have a $0.01 exercise price and remain exercisable until fully exercised, subject to 4.99% or 9.99% ownership caps. Upon completion, ordinary shares outstanding will rise to 7,582,111, and 6 million common warrants will be outstanding.
