Ortho Regenerative Technologies (OTCMKTS:ORTIF) (CSE:ORTH) Stock In Focus After Announcing Private Placement
Shares of Ortho Regenerative Technologies (OTCMKTS:ORTIF) (CSE:ORTH) has been trading within a narrow range.
Market Stats
On Friday, ORTIF stock ended flat at $0.2049 with more than 10K shares, compared to its average volume of 1.8K shares. The stock moved within a range of $0.2049 – 0.2049 after opening trading at $0.2049.
Key Details
Clinical stage ortho biologics company engaged in developing novel therapeutic soft tissue repair technologies for improving success rate of sports and orthopedic surgeries, Ortho Regenerative Technologies(OTCMKTS:ORTIF) (CSE: ORTH), on February 11, 2022 announced non-brokered private placement of units for gross proceeds of maximum $3.0 million.
Every unit will be having price of $0.30 comprising of a common share as well as Share purchase warrant. Each Warrant can be exercised for one share in the company capital at $0.50 per Warrant Share for four years from closing.
In case the daily average of the volume weighted average market price (VWAP) of its common shares over ten trading days is greater or equal to $1.25, the firm may give notice to the Warrant holder.
Net proceeds will be given for ORTHO-R Phase I/II US Clinical trial as well as corporate purposes. Common shares and warrants would be subject to 4-months hold period under the applicable securities laws. Closing of placement will happen till February 28, 2022.
The Units would be sold and given by private placement in Canada to “accredited investors” defined within Regulation 45-106. It would also be sold in the US on private placement basis only under Regulation D, Rule 144A.
The firm will still pay finders’ fee of 7% of gross proceeds, which has been raised from Accredited Investors.
Traders Corner
ORTIF stock is trading below the 10-Day and 20-Day Moving averages of $0.2049 and $0.2315 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.3404.
