BioAmber Announces Listing of Shares on Toronto Stock Exchange
MONTREAL - BioAmber Inc. announced that its shares of common stock (Common Shares) have been conditionally approved for listing on the Toronto Stock Exchange (TSX) and that its previously issued special warrant (the Special Warrant) has been automatically exercised, on April 28, 2017, for 2,224,199 Common Shares (the Underlying Shares) following the issuance of a receipt for its final prospectus qualifying the Underlying Shares by the British Columbia Securities Commission.
The Special Warrant was issued by way of a private placement on December 30, 2016, at a price of $4.00 per Underlying Share issuable upon the exercise thereof, resulting in gross proceeds to the company of $8,896,796. Such proceeds were placed in escrow and are being released to the company concurrently with the automatic exercise of the Special Warrant.
“We are honored to have been approved by the TSX for this listing on Canada’s senior stock exchange. Canadian investors have shown a strong interest in renewable companies, and we have attracted a growing shareholder base in Canada. A TSX listing will complement our existing NYSE listing by adding greater liquidity and depth of distribution for our investors,” stated Fabrice Orecchioni, BioAmber President and COO.