In the past week, the Biotricity Inc (OTCMKTS:BTCY) stock has been on the move and has managed to deliver gains of 3%. The company, which is involved in the consumer healthcare technology and medical diagnostic industries, was in the news yesterday after the company announced that it was going to have an underwritten public offering of its common stock.
That is a significant development for Biotricity and one that could be followed closely by investors. However, that is not all. The company is also going to offer the underwrite the option to buy more shares in Biotricity within a 30 day period at the same offering price. However, the cost of commissions and underwriting discounts are going to be deducted from the price.
With regards to this public offering, Biotricity is expected to list its share on the NASDAQ Capital Market. The stock is going to bear the symbol BTCY. While the announcement is a significant one, it is also necessary for investors to keep in mind that the offering can only be completed after all market conditions are fulfilled. At this point in time there is no assurance that the offering is actually going to be completed.