Mr.
Robert Farrell reports
KALYTERA THERAPEUTICS, INC. ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION
In connection with Kalytera Therapeutics Inc.'s previously announced public offering of units of the company for aggregate gross proceeds of $4,297,260, Echelon Wealth Partners Inc., which acted as agent for and on behalf of the company in connection with the offering, has exercised its overallotment option in full, and an additional 5,859,900 units were issued, representing additional gross proceeds of $644,589.
Each unit consists of one common share in the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at a price of 15.5 cents (subject to customary adjustments for certain events) for a period of 36 months from the initial closing date of the offering.
On closing of the exercise of the overallotment option, Echelon was paid an additional commission comprising of a cash fee in the amount of $48,344.18 and was issued an aggregate of 292,995 agent warrants. Each agent warrant is exercisable for common shares at a price of 11 cents until Aug. 8, 2020.
About Kalytera Therapeutics
Inc.
Kalytera Therapeutics is pioneering the development of cannabidiol (CBD) therapeutics for life-threatening unmet medical needs.
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