On April 17th, CBD-based drug developer Kalytera Therapeutics Inc. (TSXV:KALY) (OTC:KALTF) announced the filing of a final short form prospectus with securities regulatory authorities in the provinces of Alberta, British Columbia, and Ontario in regards to its previously announced units offering. Alongside this offering, Kalytera is also changing its ticker symbol on the TSXV.
What Kalytera Investors Need to Know About the Offering
- Pursuant to the prospectus, each unit will be offered at an issue price of $0.05 CAD per unit.
- Each unit will consist of one common share in the company and one common share purchase warrant.
- Each warrant will entitle the holder thereof to acquire one common share at a price of $0.065 CAD for a period of 36 months from the first closing date.
- Kalytera is offering a minimum of 90,000,000 units of the company and a maximum of 200,000,000 units for gross proceeds of $4,500,000 CAD to $10,000,000 CAD.
- The first closing of the offering is expected to occur on or about April 26th, 2019.
- Kalytera intends to use the net proceeds of the offering to pay milestone payments owing to the former shareholders of Talent Biotechs Ltd, to progress its Phase 2 clinical study evaluating cannabidiol for the prevention of graft versus host disease, for administrative expenses, and depending on the amount of proceeds, to progress its program to create a novel, proprietary CBD analogue for treatment of acute and chronic pain.
What Kalytera Investors Need to Know About the New Ticker
- According to a bulletin issued by the TSX Venture Exchange, effective at the opening April 23, 2019, the Canadian trading symbol for Kalytera Therapeutics Inc. will change from ‘KALY’ to ‘KLY’.
- There is no change in the company’s name, no change in its CUSIP number and no consolidation of capital.
- The trading symbol for its currently outstanding warrants issued in August 2018 will change from ‘KALY.WT’ to ‘KLY.WT.A’.
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