IntelGenx Technologies (OTCQX:IGXT; TSXV:IGX) has filed a final short form prospectus in connection with its previously announced offering of a minimum of $5-million and a maximum of $10-million principal amount of 8% convertible unsecured subordinated debentures due June 30, 2020.
The company also has filed an amended registration statement with the SEC to register the debentures and common stock underlying the debentures.
Each debenture will be convertible at a conversion price of $1.35 a common share, representing a conversion rate of approximately 740 shares per $1,000 principal amount of debentures.
The offering is being conducted on a commercially reasonable best efforts basis by a syndicate of agents led by Desjardins Capital Markets and including Laurentian Bank Securities and Echelon Wealth Partners, and is expected to close on July 12.
Net proceeds will be used for capital expansion, clinical studies, product development and general working capital requirements.
