Most sectors of the market, both large and small, throughout North America, took their lumps Wednesday, with the health-care sector in particular getting slugged 6.2%.
One company, though, did its best to hold off against the negative tide.
CloudMD Software & Services Inc. (CSE:DOC), a telemedicine company headquartered in Vancouver, was excited to break to investors it was ready to increase the size of its previously announced bought deal financing.
Underwriters have agreed to purchase, on a bought-deal basis pursuant to the filing of a short form prospectus, an aggregate of 18,572,000 units at a price of $0.70 per unit for aggregate gross proceeds to the Company of approximately $13 million.
DOC, which claims to be revolutionizing the delivery of health-care to patients, says each unit shall consist of one common share and one-half of one common share purchase warrant of the company. Each warrant shall be exercisable to acquire exercisable to acquire one common share of the Company for a period of 24 months from closing of the transaction at an exercise price of $1.00 per Warrant.
DOC shares acquired five cents, or 6.5%, to 82 cents, on volume of 4.3 million shares.
