The overnight marketed offering consists of 12.8 million units — each of which contains one common share and one half of a share purchase warrant — at a price of C$0.78 per unit.
A full warrant allows its holder to acquire a common share at a price of C$1.05 per share up to 24 months after the offering closes, which the company expects to occur on January 30.
The Vancouver-based company has also granted its syndicate of underwriters the option to purchase up to an additional 15% of units.
Should Osino’s share price close at C$1.09 for five consecutives at any point within 9 months of the offering, the company can move up the warrants’ expiry date to 30 days from that point.
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