VANCOUVER, British Columbia -- Quadra Logic TechnologiesInc. announced Thursday that it filed a preliminary prospectusfor a Canadian offering that it expects will raise between $15million and $25 million (Canadian), or $12.6 million to $21million U.S. at current exchange rates.
The offering is for units consisting of one Quadra Logic share(NASDAQ:QLTIF) and one warrant for the later purchase of one-half of a share.The number of units to be sold and their pricerange has yet to be set, according to a representative of theoffering's lead underwriter, Burns Fry Ltd. of Vancouver.
Quadra Logic currently has 12.8 million shares outstanding. Thestock closed Thursday at $6.25 a share, up 38 cents.
The offering is being made only in Canada and will not, with afew exceptions, be sold or delivered in the United States.
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