2023-05-19 09:17:52 ET
- Telo Genomics ( TSXV: TELO:CA ) ( OTCQB:TDSGF ) on Friday announced a non-brokered private placement of units to raise $2 million.
- The company plans to offer units at 25 cents apiece, which would translate to an offering of about 8 million units to raise the desired amount.
- Each unit will consist of one common share of the company and one-half of one non-transferable common share purchase warrant.
- Each warrant will entitle the holder to acquire one additional common share at a price of $0.40 per common share for a period of 24 months from the date of issuance.
- The net proceeds of the offering will be used to fund the company's commercial plan to launch its lead product for smoldering multiple myeloma and ongoing collaborative studies with the Mayo Clinic in multiple myeloma, among other things.
- Press Release .
For further details see:
Telo Genomics to raise $2M through private placement of units