Burcon NutraScience: Rises on C$10 million bought deal

Burcon NutraScience

29/01/2020 16:04

** Plant proteins developer's  BU.TO  shares up 2.9% at
C$1.75
    ** BU and a group of underwriters co-led by Canaccord
Genuity and Beacon Securities entered into a C$10 million bought
deal  urn:newsml:reuters.com:*:nCNWPzxDba
    ** Burcon says underwriters to buy about 6.5 million BU
units — one common share plus 1/2 a warrant — at C$1.55 apiece 
    ** Each warrant can be exercised to buy one common share
within 24 months, after the offer closes, at an exercise price
of C$2 per share - BU
    ** BU expects offer to close on Feb. 19
    ** Company also grants underwriters an option to buy up to
967,800 units at C$1.55 per unit, exercisable within 30 days
after and including the closing date of the offer
    ** Shares jumped as much as 7% earlier in the session
    ** Including session's gains, BU up 80.4% this year

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@ThomsonReuters.com))