Nasdaq has suspended trading in Neovasc (NASDAQ:NVCN) pending the release of news.
Update: The company has agreed to sell 2,418,322 Series A Units at $4.1351 each and Series B Units at $4.135 each in a direct offering to certain institutional investors.
Each Series A Unit consists of one common share and one four-year warrant to acquire one common share at $4.1351.
Each Series B Unit consists of one pre-funded warrant and one four-year warrant.
Gross proceeds should be ~$10M. Closing date is January 6.
Shares will resume trading at 8:45 am ET.
Tuesday’s close was $5.41.
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