News Article
Opel closes final tranche in financing
The firm, will through its subsidiary Odis, use the funds to further develop its III-V compound semiconductor solar cell technology
Opel Technologies Inc. has successfully completed the final tranche of its previously announced $3,000,000 financing through IBK Capital Corp. as agent.
The private placement offering consisted of 13,043,479 Units at a price of $0.23 per Unit. Each unit consists of one common share and one common share purchase warrant. One full warrant allows the holder to acquire one common share of Opel for a period of three years at an exercise price of $0.35 per share. The securities issued pursuant to the private placement will be subject to a hold period which expires four months and one day following closing.
The final tranche amounted to the entire remaining $1,442,580 available under the offering. A cash commission equal to 7 percent of the funds raised and 10 percent of the units sold in the form of broker warrants were paid to the agent. Each broker warrant allows the holder to acquire one common share of Opel at a price of $0.23 for 48 months.
Opel, through its subsidiary Odis, is now concentrating on the development of III-V compound semiconductor solar cell technology.
The private placement offering consisted of 13,043,479 Units at a price of $0.23 per Unit. Each unit consists of one common share and one common share purchase warrant. One full warrant allows the holder to acquire one common share of Opel for a period of three years at an exercise price of $0.35 per share. The securities issued pursuant to the private placement will be subject to a hold period which expires four months and one day following closing.
The final tranche amounted to the entire remaining $1,442,580 available under the offering. A cash commission equal to 7 percent of the funds raised and 10 percent of the units sold in the form of broker warrants were paid to the agent. Each broker warrant allows the holder to acquire one common share of Opel at a price of $0.23 for 48 months.
Opel, through its subsidiary Odis, is now concentrating on the development of III-V compound semiconductor solar cell technology.
