Khiron Life Sciences Corp. (TSXV:KHRN) (OTC:KHRNF) has priced and sized its overnight marketed public offering.
The company intends to issue 26.70 million units at C$0.15 per unit for gross proceeds of C$4.01 million.
Each unit will consist of one common share and one common share purchase warrant. Each unit warrant is exercisable to acquire one common share at C$0.20 for a period of 24 months following the closing date of the offering.
The underwriters have been granted an option to purchase up to an additional 15% of the units.
The company plans to use the offering net proceeds for general corporate and working capital purposes. The offering is expected to close on June 10, 2022.
Price Action: KHRN shares traded lower by 27.78% at C$0.13 on TSXV on the last check Thursday.
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