Perimeter Medical Imaging AI Announces Non-Brokered Private Placement
Perimeter Medical Imaging AI (TSXV: PINK) (OTC: PYNKF) has announced a non-brokered private placement of up to 32,175,032 common shares at $0.42 per share, aiming to raise up to $13.5 million. The company has secured binding agreements for approximately $9.7 million, including from its largest shareholder, Social Capital. The closing is expected around September 20, 2024, subject to conditions including TSXV approval. Proceeds will be used for working capital, commercialization, clinical studies, and technology development. The offering includes a four-month hold period and may involve cash commissions to finders. Social Capital's participation constitutes a 'related party transaction' under MI 61-101, with the company relying on exemptions from formal valuation and minority shareholder approval requirements.
Perimeter Medical Imaging AI (TSXV: PINK) (OTC: PYNKF) ha annunciato un collocamento privato non intermediato fino a 32.175.032 azioni ordinarie a 0,42 $ per azione, con l'obiettivo di raccogliere fino a 13,5 milioni di dollari. La società ha già assicurato accordi vincolanti per circa 9,7 milioni di dollari, inclusi quelli dal suo maggior azionista, Social Capital. La chiusura è prevista intorno al 20 settembre 2024, soggetta a condizioni, tra cui l'approvazione della TSXV. I proventi saranno utilizzati per capitale operativo, commercializzazione, studi clinici e sviluppo tecnologico. L'offerta include un periodo di blocco di quattro mesi e potrebbe comportare commissioni in contante per i trovatori. La partecipazione di Social Capital costituisce una 'transazione con parti correlate' ai sensi della MI 61-101, con la società che si affida a esenzioni dai requisiti di valutazione formale e di approvazione dei soci di minoranza.
Perimeter Medical Imaging AI (TSXV: PINK) (OTC: PYNKF) ha anunciado un colocación privada no intermediada de hasta 32.175.032 acciones comunes a $0.42 por acción, con el objetivo de recaudar hasta $13.5 millones. La empresa ha asegurado acuerdos vinculantes por aproximadamente $9.7 millones, incluyendo a su mayor accionista, Social Capital. El cierre se espera alrededor del 20 de septiembre de 2024, sujeto a condiciones que incluyen la aprobación de la TSXV. Los ingresos se utilizarán para capital de trabajo, comercialización, estudios clínicos y desarrollo tecnológico. La oferta incluye un período de bloqueo de cuatro meses y puede implicar comisiones en efectivo para buscadores. La participación de Social Capital constituye una 'transacción con partes relacionadas' bajo la MI 61-101, con la empresa confiando en exenciones de los requisitos de valoración formal y aprobación de accionistas minoritarios.
Perimeter Medical Imaging AI (TSXV: PINK) (OTC: PYNKF)는 중개인 없는 사모 배급을 발표했습니다. 이번 배급은 최대 32,175,032주를 주당 $0.42에 공모하며, 총 $13.5 백만을 조달할 목표를 가지고 있습니다. 이 회사는 약 $9.7 백만에 대한 구속력 있는 계약을 확보했으며, 그 중 가장 큰 주주인 Social Capital도 포함됩니다. 종료일은 2024년 9월 20일 경으로 예상되며, TSXV 승인을 포함한 조건이 있습니다. 조달된 자금은 운전자본, 상업화, 임상 연구 및 기술 개발에 사용될 예정입니다. 이 제공에는 4개월의 보유 기간이 포함되며, 발굴자에게 현금 수수료가 발생할 수 있습니다. Social Capital의 참여는 MI 61-101에 따라 '관련 당사자 거래'로 간주되며, 회사는 공식 평가 및 소수 주주 승인 요구 사항에 대한 면제를 신뢰합니다.
Perimeter Medical Imaging AI (TSXV: PINK) (OTC: PYNKF) a annoncé un placement privé sans intermédiaire d'un maximum de 32.175.032 actions ordinaires au prix de 0,42 $ par action, visant à lever jusqu'à 13,5 millions de dollars. L'entreprise a sécurisé des accords contraignants pour environ 9,7 millions de dollars, y compris de son plus grand actionnaire, Social Capital. La clôture est prévue autour du 20 septembre 2024, sous réserve de conditions, y compris l'approbation de la TSXV. Les fonds seront utilisés pour le fonds de roulement, la commercialisation, les études cliniques et le développement technologique. L'offre comprend une période de blocage de quatre mois et peut impliquer des commissions en espèces pour les découvreur. La participation de Social Capital constitue une 'transaction entre parties liées' selon la MI 61-101, l'entreprise s'appuyant sur des exemptions aux exigences d'évaluation formelle et d'approbation des actionnaires minoritaires.
Perimeter Medical Imaging AI (TSXV: PINK) (OTC: PYNKF) hat eine nicht vermittelte Privatplatzierung von bis zu 32.175.032 Stammaktien zu 0,42 $ pro Aktie angekündigt, mit dem Ziel, bis zu 13,5 Millionen $ zu sammeln. Das Unternehmen hat verbindliche Vereinbarungen in Höhe von etwa 9,7 Millionen $ gesichert, einschließlich von seinem größten Aktionär, Social Capital. Der Abschluss wird für den 20. September 2024 erwartet, vorbehaltlich bestimmter Bedingungen, einschließlich der Genehmigung durch die TSXV. Der Erlös wird verwendet für Betriebskapital, Kommerzialisierung, klinische Studien und Technologietwicklung. Das Angebot umfasst eine viermonatige Haltefrist und könnte Barprovisionen für Vermittler beinhalten. Die Beteiligung von Social Capital stellt eine 'Transaktion mit nahestehenden Parteien' im Sinne von MI 61-101 dar, wobei das Unternehmen auf Ausnahmen von den Anforderungen an die formale Bewertung und die Genehmigung durch Minderheitsaktionäre angewiesen ist.
- Raised approximately $9.7 million through binding subscription agreements
- Potential to raise up to $13.5 million in total
- Support from largest shareholder, Social Capital, indicating confidence in the company
- Funds to be used for commercialization, clinical studies, and technology development
- Dilution of existing shareholders due to issuance of new common shares
- Related party transaction with Social Capital may raise governance concerns
- Four-month hold period on new shares may limit liquidity
In connection with the Offering, the Company has entered into binding subscription agreements with certain existing institutional and accredited investors, including its single largest shareholder, SC Master Holdings LLC ("Social Capital"), representing expected subscription proceeds totaling approximately
The closing of the Offering, which is subject to the satisfaction or waiver of a number of customary closing conditions, including the approval of the TSX Venture Exchange ("TSXV"), is expected to take place on or around September 20, 2024. The Company is in discussions with other potential investors and may complete one or more additional closings of the Offering for aggregate gross proceeds, when combined with the first closing of the Offering, of up to approximately
Perimeter intends to use the proceeds of the Offering for working capital, commercialization of its technology, clinical studies, the further development of its technology, and general corporate purposes.
The securities issued pursuant to Offering will be subject to a hold period of four months plus a day. In connection with the Offering, the Company may pay cash commissions and or finder's fees to certain finders in respect of subscriptions received from certain investors in connection with the Offering, subject to entering into customary arrangements with such finders and subject to the approval of the TSXV. Further information with respect to any such commissions or fees will be provided at the time of the closing, or of the closing of any additional tranches of the Offering.
The Common Shares shall be offered and sold (i) to investors in
The Common Shares have not been, and will not be, registered under the
Social Capital, a control person of the Company has entered into a binding subscription agreement to purchase a total of 14,507,453 Common Shares under the Offering. The placement to such person will constitute a "related party transaction" within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded
About Perimeter Medical Imaging AI, Inc.
Based in
Perimeter B-Series OCT is limited by
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. In this news release, words such as "may," "would," "could," "will," "likely," "believe," "expect," "anticipate," "intend," "plan," "estimate," and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management's future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, taxes and plans and objectives of, or involving, Perimeter. Without limitation, information regarding the expected size of the Offering, the use of proceeds of the Offering, the jurisdictions in which the Common Shares will be offered or sold, the number of Common Shares offered or sold, the ability of Perimeter to close the Offering on terms announced (if at all), the timing and ability of Perimeter to satisfy the customary listing conditions of the TSX Venture Exchange (if at all) and the benefits expected from the use of proceeds are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter's control. Such forward-looking statements reflect Perimeter's current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter's financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter's Management Discussion and Analysis for the year ended December 31, 2023, which is available on Perimeter's SEDAR+ profile at https://www.sedarplus.ca, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws.
For more information about the Offering, please contact:
Tim Williams
Institutional Relations
Direct: 416-953-6630
timwilliams@perimetermed.com
Contacts
Stephen Kilmer
Investor Relations
Direct: 647-872-4849
Email: skilmer@perimetermed.com
Adrian Mendes
Chief Executive Officer
Toll-free: 888-988-7465 (PINK)
Email: investors@perimetermed.com
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SOURCE Perimeter Medical Imaging AI Inc.
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