BioVaxys Announces Innovative Debenture Offering for Growth
Innovative Financing Through Debenture Offering
BioVaxys Technology Corp. (CSE: BIOV) is excited to announce a strategic initiative to offer unsecured convertible debentures to bolster its financial foundation. This move is set to raise up to $500,000 in gross proceeds, which will enable the company to enhance its research and development as well as other corporate needs. This offering exemplifies the company’s commitment to expanding its biopharmaceutical innovations.
Details of the Convertible Debentures
The unsecured convertible debentures will carry a 10% interest per annum, with interest payouts available quarterly. Investors have the choice to receive interest in cash or as common shares. The conversion option allows holders to convert their principal into shares at the closing price on the Canadian Securities Exchange (CSE) on the day of notice. This flexibility is designed to attract investors seeking both security and potential equity upside.
Warrants as Part of the Offering
For every investment of $1,000 in debentures, participants will be granted 4,000 transferable common share purchase warrants. Each warrant entitles the holder to acquire one share at a price of $0.25, making it an intriguing opportunity for Investors looking to capitalize on future stock performance. The warrants will be effective for a period of 12 months, creating an incentive for immediate participation post-offering consolidation.
Utilization of Proceeds and Related Transactions
The net funds from this offering will directly support essential initiatives in research, development, and working capital needs. The company anticipates that insider participation will enhance trust and commitment to the initiative. As a significant related party transaction, this move will comply with Multilateral Instrument 61-101 for minority shareholder protections. This accountability showcases the company’s transparency with its stakeholders.
Consolidation of Shares
In conjunction with the offering, BioVaxys plans to consolidate its shares at a ratio of ten pre-consolidation shares to one post-consolidation share. This decision aims to streamline the share structure and is set to occur shortly after the offering closes. The consolidation will adjust the conversion prices and shares proportionately, ensuring that stakeholders see a reflection of value in their investments.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. is a dynamic biopharmaceutical entity focused on developing innovative immunotherapy solutions. The company leverages its proprietary DPX™ immune-educating technology platform along with its HapTenix© tumor cell construct platform to address pressing healthcare challenges in cancer and infectious diseases. With products like maveropepimut-S currently in clinical trials, BioVaxys is dedicated to advancing patient care through groundbreaking treatments.
Looking Towards the Future
The future seems promising for BioVaxys as it combines strategic financing with innovative therapeutic strategies. The commitment to enhancing shareholder value while promoting health advancements places BioVaxys at a pivotal point in its journey. The ongoing efforts to improve patient outcomes position the company favorably within the biopharmaceutical landscape.
Frequently Asked Questions
What is the purpose of the convertible debenture offering?
The offering aims to raise funds to support BioVaxys’s research and development, general corporate purposes, and working capital.
What are the terms of the debentures offered?
The debentures are unsecured, have a 10% annual interest rate, and can be converted into common shares at the option of the holders.
How will the proceeds from the offering be used?
The proceeds will be allocated to research and development projects, general corporate needs, and working capital requirements.
What impact will the share consolidation have?
The consolidation will adjust the number of shares, affecting their perceived value while ensuring the company maintains a robust capital structure.
Who can participate in the debenture offering?
The offering is aimed at accredited investors, providing an opportunity for individuals to invest in BioVaxys and benefit from potential future growth.
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