Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (80756)	10/3/2002 5:09:32 PM
From: afrayem onigwecher	Read Replies (1) \| Respond to of 122087

Imagis SEC filing offers financing details and more 2002-10-02 06:18 PT - Street Wire IN THE DETAILS by Lee M. Webb Imagis Technologies Inc., a Vancouver biometric player, has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) in connection with shares and warrants issued to OSI Systems Inc. pursuant to a $1.75-million (U.S.) brokered private placement disclosed on July 9. Imagis trades on the TSX Venture Exchange, the Frankfurt Exchange and the OTC Bulletin Board. The prospectus in the 74-page SEC registration statement filed on Sept. 23 covers the sale of an aggregate of 1,458,334 Imagis shares by OSI. U.S.-based OSI acquired 1,166,667 Imagis shares and 291,667 warrants exercisable at $1.50 (U.S.) over two years in the brokered July financing. Deepak Chopra, OSI's chairman and chief executive officer, was appointed to Imagis's board of directors on July 8. The Sept. 23 SEC filing fleshes out some of the details of the $1.75-million (U.S.) financing. Among other things, the subscription agreement with OSI provides for an adjustment to the purchase price through the issuance of additional shares to OSI, if Imagis, with some unspecified exceptions, enters into another financing prior to July 9, 2003, at a price less than $1.50 (U.S.) per share. A similar adjustment would apply to the warrants, offering OSI at least some protection against a possible dilutive financing. The remainder is available to Stockwatch subscribers. If you would like to give the Stockwatch system a try, click here to register. Free 30 day trial subscriptions are available.