Here is the news release i just go it:
WARBURG TO ACQUIRE SERIES A CONVERTIBILE PREFERRED SHARES AND WARRANTS OF HEALTHCARE
CALGARY, Dec. 24 /CNW/ - Warburg, Pincus Ventures, L.P. announces that it
has closed an agreement dated November 21, 1997 with HealthCare Capital Corp.
to acquire from treasury an aggregate of 13,333,333 Series A Convertible
Preferred Shares of HealthCare, which are convertible into common shares on a
one to one basis, and warrants to acquire 10,000,000 common shares of
HealthCare. Warburg currently holds no common shares of HealthCare and if the
above securities are converted and exercised, will hold an aggregate of
23,333,333 common shares of HealthCare. Warburg is to pay aggregate cash
consideration of US$18,000,000 for these securities.
The details of this agreement were disclosed by HealthCare on November
25, 1997.
The common shares of HealthCare are listed for trading on The Alberta
Stock Exchange.
Warburg is acquiring the Series A Convertible Preferred Shares and
warrants of HealthCare for investment purposes. The Series A Convertible
Preferred Shares and warrants may be exercised if appropriate share values are
achieved.
The Alberta Stock Exchange has neither approved nor disapproved the
information contained herein. |
