Cypher Metaverse closes $170,000 placement to fund Noninvasix deal
What's the deal? Vancouver-based Cypher MetaverseDealroom has a profile for this one. Try Dealroom → (CVE:CODE) has closed a non-brokered private placement of 712,060 units at C$0.33 each, raising gross proceeds of C$234,979.80 (roughly $170,000). Each unit bundles one common share and one warrant.
The terms: Each warrant lets the holder buy an additional share for C$0.45 within two years, with an accelerated expiry possible if certain trading conditions are met. The placement carries a four-month holding period.
What's the endgame? Cypher plans to use net proceeds to advance its acquisition of Noninvasix, Inc.Dealroom has a profile for this one. Try Dealroom →
Who else got paid? The company paid finder's fees of C$18,798.38 and issued 56,965 finder's warrants on terms similar to the regular warrants.
What's next? The placement awaits approval from the Canadian Securities Exchange.
The signal: The small raise, tied directly to the Noninvasix deal, points to a company using incremental equity financing to fund a pending acquisition rather than broad operations.
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