Tetra Bio-Pharma Announces Second Closing Of Financing With Alpha Blue Ocean

Tetra Bio-Pharma Inc. TBPMF TBP JAM, has closed the second tranche of its financing arrangement with Global Corporate Finance Opportunities 16, an investment vehicle advised by Alpha Blue Ocean, pursuant to the terms of an amended and restated subscription agreement dated September 2, 2022.

As part of the closing of the second tranche of the financing, the company issued to the investor $400,000 principal amount of debentures and warrants to acquire 2.8 million common shares at a price of $0.0351 per share. The debentures issued as part of the second tranche do not bear interest and will mature on October 26, 2023. The warrants issued as part of the second tranche have an expiry date of October 26, 2025.

Under the amendment and restated subscription agreement, the debentures issued upon the first tranche and second tranche of the financing are convertible into common shares of the company at a conversion price equal to 85% of the volume-weighted average price of the common shares on the Toronto Stock Exchange , rounded to two decimal places, for the five trading days immediately preceding the conversion of the applicable debentures into common shares, having regard for any adjustments made in accordance with the terms of the debentures.

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