Canada’s NanoXplore to secure $20 mln in private placement offering

Canadian graphene company NanoXplore Inc. plans to secure $20 million in its private placement offering.

Under the terms of the deal, a syndicate of underwriters led by Canadian lender National Bank Financial Inc. will purchase 15.4 million common shares in NanoXplore at a price of $1.3 per common share.

NanoXplore will use the net capital for extending its graphene production plant, add new production lines, purchase equipment, increase working capital and general corporate purposes.

The underwriters have been granted a 30 days option to purchase more 7,692,000 common shares for additional gross proceeds of approximately $10 million. Subjected to certain conditions and regulatory authorities approvals, the deal is scheduled to close on or about January 11, 2019.