News Feed Item
Immunotec Files a Preliminary Short Form Prospectus
|By Marketwired .
|July 3, 2014 05:52 PM EDT
VAUDREUIL-DORION, QUEBEC -- (Marketwired) -- 07/03/14 -- Immunotec Inc. (TSX VENTURE:IMM), a Canadian-based company and a leader in the wellness industry (the "Company" or "Immunotec"), is pleased to announce that it has filed a preliminary short form prospectus with the securities regulatory authorities in each of the provinces of Canada in connection with a treasury offering of common shares ("Common Shares") in the capital of the Company (the "Primary Shares") and a secondary offering of Common Shares (the "Secondary Shares" and collectively with the Primary Shares, the "Offered Securities") by two selling shareholders of the Company (the "Selling Shareholders") for gross proceeds of $7 million to $15 million (the "Offering").
The net proceeds from the sale of Primary Shares pursuant to the Offering will be used by the Company primarily (i) to finance future growth opportunities, such as expanding its direct selling network in new markets in Central and South America, (ii) to establish "pick and pack" facilities in Mexico, (iii) to purchase new manufacturing equipment for its existing manufacturing facility located in Blainville, Quebec, Canada, (iv) to improve its information technology and systems infrastructure and (v) for working capital and general corporate purposes.
Canaccord Genuity Corp. will act as lead underwriter (the "Lead Underwriter") and Euro Pacific Canada Inc. and Industrial Alliance Securities Inc. will act as co-managers (collectively with the Lead Underwriter, the "Underwriters") in connection with the Offering. An underwriting agreement for the Offering will be entered into by the Company, the Selling Shareholders and the Underwriters, at the time of filing of the final short form prospectus.
The Company and the Selling Shareholders expect to grant to the Underwriters a 30-day option to purchase up to an additional 15 percent of the number of Offered Securities sold pursuant to the Offering to cover over-allotments, if any, and for market stabilization purposes.
Final pricing and determination of the number of Primary Shares and Secondary Shares to be sold pursuant to the Offering will occur immediately prior to the filing of the final short form prospectus in respect of the Offering. The Offering is subject to market conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The Offering is subject to customary conditions and regulatory approval, including that of the TSX Venture Exchange.
If completed, the closing of the Offering shall take place within 30 days of the date of receipt for the final short form prospectus in respect of the Offering, or on such other date agreed upon by Company and the Lead Underwriter. The Offered Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws of the United States. Accordingly, the Offered Securities will not be offered or sold to persons within the United States unless an exemption from the registration requirements of the 1933 Act and applicable state securities laws is available.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein.
Copies of the preliminary short form prospectus will be available once a receipt has been obtained therefor at www.sedar.com and a written copy may be obtained upon request by contacting Canaccord Genuity Corp., Attention: Ron Sedran, Managing Director, Equity Capital Markets, P.O. Box 516, 161 Bay Street, Suite 3000, Toronto, Ontario M5J 2S1.
About Immunotec Inc.
Immunotec is dedicated to improving people's lives every day by offering research-driven nutritional products through its network of Independent Consultants worldwide. Immunotec's strength comes from its culture that emphasizes teamwork and entrepreneurial leadership by employees, consultants and research collaborators.
Headquartered with manufacturing facilities near Montreal, Canada, Immunotec Consultants generated nearly $55.0 million in annual revenues for the Corporation during fiscal year 2013. Immunotec reported for the first half of fiscal 2014 an overall revenue growth of 42%. Revenues from the United States grew 36% and revenues from Mexico grew 81% over the same period. Please visit us at www.immunotec.com for additional information.
The Company files its continuous disclosure documents on the SEDAR database at www.sedar.com and on the Company's website at www.immunotec.com. The common shares of the Company are listed on the TSX Venture Exchange under the ticker symbol IMM. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS: Certain statements contained in this news release are forward looking and are subject to numerous risks and uncertainties, known and unknown. For information identifying known risks and uncertainties and other important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the heading Risks and Uncertainties in Immunotec's most recent Management's Discussion and Analysis, Annual Information Form and Preliminary Short Form Prospectus, which can be found at www.sedar.com. Consequently, actual results may differ materially from the anticipated results expressed in these forward-looking statements.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
Jul. 6, 2015 02:00 PM EDT Reads: 1,089
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and easy to use. MangoApps has been named a "Market Leader" by Ovum Research and a "Cool Vendor" by Gartner. 20,000+ business custome...
Jul. 6, 2015 02:00 PM EDT Reads: 2,052
IT data is typically silo'd by the various tools in place. Unifying all the log, metric and event data in one analytics platform stops finger pointing and provides the end-to-end correlation. Logs, metrics and custom event data can be joined to tell the holistic story of your software and operations. For example, users can correlate code deploys to system performance to application error codes.
In his session at DevOps Summit, Michael Demmer, VP of Engineering at Jut, will discuss how this can...
Jul. 6, 2015 02:00 PM EDT Reads: 1,338
SYS-CON Events announced today that WHOA.com, an ISO 27001 Certified secure cloud computing company, participated as “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which took place June 9-11, 2015, at the Javits Center in New York City, NY. WHOA.com is a leader in next-generation, ISO 27001 Certified secure cloud solutions. WHOA.com offers a comprehensive portfolio of best-in-class cloud services for business including Infrastructure as a Service (IaaS), Secure Cloud Desk...
Jul. 6, 2015 01:45 PM EDT Reads: 621
SYS-CON Events announced today that kintone has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
kintone promotes cloud-based workgroup productivity, transparency and profitability with a seamless collaboration space, build your own business application (BYOA) platform, and workflow automation system.
Jul. 6, 2015 01:45 PM EDT Reads: 2,078
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US a...
Jul. 6, 2015 01:30 PM EDT Reads: 2,291
The cloud has transformed how we think about software quality. Instead of preventing failures, we must focus on automatic recovery from failure. In other words, resilience trumps traditional quality measures.
Continuous delivery models further squeeze traditional notions of quality. Remember the venerable project management Iron Triangle? Among time, scope, and cost, you can only fix two or quality will suffer.
Only in today's DevOps world, continuous testing, integration, and deployment upend...
Jul. 6, 2015 01:30 PM EDT Reads: 2,615
Live Webinar with 451 Research Analyst Peter Christy. Join us on Wednesday July 22, 2015, at 10 am PT / 1 pm ET
In a world where users are on the Internet and the applications are in the cloud, how do you maintain your historic SLA with your users?
Peter Christy, Research Director, Networks at 451 Research, will discuss this new network paradigm, one in which there is no LAN and no WAN, and discuss what users and network administrators gain and give up when migrating to the agile world of clo...
Jul. 6, 2015 01:30 PM EDT Reads: 1,444
SYS-CON Events announced today that SoftLayer, an IBM company, has been named “Gold Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place November 3–5, 2015 at the Santa Clara Convention Center in Santa Clara, CA.
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to globa...
Jul. 6, 2015 01:15 PM EDT Reads: 2,168
SYS-CON Events announced today that Intelligent Systems Services will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Established in 1994, Intelligent Systems Services Inc. is located near Washington, DC, with representatives and partners nationwide. ISS’s well-established track record is based on the continuous pursuit of excellence in designing, implementing and supporting nationwide clients’ ...
Jul. 6, 2015 01:15 PM EDT Reads: 871
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting.
In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect t...
Jul. 6, 2015 01:15 PM EDT Reads: 1,771
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises ar...
Jul. 6, 2015 01:00 PM EDT Reads: 1,683
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations.
In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
Jul. 6, 2015 01:00 PM EDT Reads: 2,371
The enterprise market will drive IoT device adoption over the next five years.
In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products.
John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI In...
Jul. 6, 2015 01:00 PM EDT Reads: 641
"What Dyn is able to do with our Internet performance and our Internet intelligence is give companies visibility into what is actually going on in that cloud," noted Corey Hamilton, Product Marketing Manager at Dyn, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 6, 2015 12:45 PM EDT Reads: 1,416