Azure Dynamics Corporation (TSX: AZD; PINKSHEETS: AZDDF) has filed a preliminary short form prospectus for a proposed minimum $12 million offering of equity units.
The units will be offered in all provinces of Canada, except Québec.
The pricing of the units offering has yet to be determined. Azure stock closed at $0.065 on TSX on February 22, 2012.
Each unit will consists of one common share, one common share purchase warrant and one subscription option. Each subscription option shall consist of a right to purchase one additional, different unit.
The offering syndicate of agents is being led by Cormark Securities Inc. Roth Capital Partners LLC will act as placement agent outside of Canada on a private placement basis.
The offering is expected to close in early to mid March, 2012.
