The company will sell units consisting of one common share and one share purchase warrant for 30 cents each. It plans to use the net proceeds from the deal for general corporate purposes and phase I and II of its Ortho-R clinical trial.
Ortho Regenerative Technologies resumed trials for Ortho-R after the FDA lifted its clinical hold in December. The FDA placed the hold in June to request additional testing data and information.
The private placement is expected to close on or about Feb. 28.
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