Perimeter Announces Closing of Final Tranche of Prospectus Offering for $2.25 Million; Total Gross Proceeds of $5.35 Million Raised Under Prospectus Offering
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/TORONTO and DALLAS, July 29, 2025 /CNW/ - Perimeter Medical Imaging AI, Inc. (TSXV:PINK) (OTCQX:PYNKF) ("Perimeter" or the "Company"), a commercial-stage medical technology company, is pleased to announce that it has closed the second tranche of its previously announced prospectus offering (the "Offering") of units of the Company (the "Units") and pre-funded units of the Company. The Offering was completed on a reasonable "best efforts" agency basis pursuant to an agency agreement (the "Agency Agreement") dated May 29, 2025 between the Company and A.G.P. Canada Investments ULC (the "Agent"). Pursuant to the Offering, the Company has issued an aggregate of 7,416,667 Units at a price of $0.30 per Unit for aggregate gross proceeds of approximately $2,225,000. Inclusive of the closing of the initial tranche, the Company has issued an aggregate of 17,849,468 Units pursuant to the Offering, for aggregate gross proceeds of approximately $5,354,840. The Company does not expect to close any further tranches of the Offering.Each Unit is comprised of one common share in the capital of the Company (each a "Common Share") and one Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to acquire an additional Common Share for a period of 60 months, at an exercise price of $0.35.In connection with the second tranche closing of the Offering, the Company paid the Agent a cash commission equal to 3.5% of the proceeds of the Offering attributable to non-management subscribers.The Company intends to use the net proceeds from the Offering to continue the commercialization of its technology, establish clinical evidence and continue product development. The Company also intends to use the net proceeds for working capital and other general corporate purposes.The Offering was completed by way of a short form prospectus dated May 29, 2025 (the "Prospectus"). The Prospectus and the Agency Agreement are available on SEDAR+ at https://sedarplus.ca and contain important detailed information about the Offering.This press release shall not constitute an offer to sell or the solicitation of an ...Full story available on Benzinga.com
