BioVaxys Technology Corp. Reduces Private Placement Unit Pricing
BioVaxys Technology Corp. Reduces Price of Private Placement Units
BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB), a dedicated player in the biopharmaceutical field, has made an important announcement regarding its private placement offering. The company has decided to reduce the price per unit of its offerings and also expand the number of units available. This strategic move underscores BioVaxys's commitment to raising funds for its ongoing projects.
Details of the Private Placement Offering
The price per unit has been lowered from $0.07 to $0.05. This means that to meet the target of raising $1,000,000, the number of units offered has gone up from 14,285,715 to 20,000,000. Each unit still comprises one common share in the company and one whole share purchase warrant, which can be converted into additional shares at an exercise price of $0.15 over a period of 24 months from the date of issuance.
Utilization of Proceeds
BioVaxys intends to use the net proceeds from the offering primarily for working capital purposes. The company may also consider paying finder's fees associated with the offering. This call for increased funding is pivotal for advancing their innovative projects that target significant medical challenges.
Compliance and Securities Regulations
The securities issued through this offering will be subject to a four-month hold period, adhering to all relevant securities laws. Completion of the offering is contingent upon obtaining necessary regulatory approvals, including those from the Canadian Securities Exchange.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. is a clinical-stage biopharmaceutical company that is focused on advancing patient care through innovative immunotherapies. With a strong foundation in cutting-edge technology, including their DPX™ platform, they aim to tackle various health issues such as cancer and infectious diseases. Their approach uses a specially designed delivery system to provoke a strong immune response, showcasing an effective strategy in the fight against serious illnesses.
Contact Information
For more details about BioVaxys and their innovative approaches, visit their official website. The company values transparency and encourages potential investors to connect with them through their official channels.
Frequently Asked Questions
What is the new price per unit for BioVaxys's private placement?
The price per unit has been reduced from $0.07 to $0.05.
How many units are being offered now?
The total number of units offered has increased from 14,285,715 to 20,000,000 units.
What are the funds raised through this offering intended for?
The proceeds will primarily be used for working capital and may also go towards paying finder's fees.
Are there any regulatory approvals required for the offering?
Yes, the closing of the offering is subject to the receipt of necessary regulatory approvals, including from the Canadian Securities Exchange.
What does BioVaxys specialize in?
BioVaxys specializes in developing immunotherapies aimed at improving patient outcomes in various health conditions such as cancer and infectious diseases.
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