On July 20, 2020 IMMUNOPRECISE ANTIBODIES LTD. (the "Company" or "IPA") (TSX VENTURE: IPA) (OTCQB: IPATF) (FSE: TQB2), a leader in full-service, therapeutic antibody discovery and development, reported that it has repaid the remaining 12.5% debentures issued in April 2018 (Press release, ImmunoPrecise Antibodies, JUL 20, 2020, View Source [SID1234562116]). In addition, IPA has received CAD$3,811,205 in connection with the exercise of previously issued warrants.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"Over the last two months we have strengthened our balance sheet with the oversubscribed convertible debenture financing and the receipt of approximately $3.8 million from warrant exercises," states Jennifer Bath, Chief Executive Officer of ImmunoPrecise. "The early repayment of the 2018 debentures removed a significant short-term debt obligation."

Of the CAD$3.8 million in warrants exercised, warrant holders exercised 875,000 warrants at CAD$1.00; 1,357,971 warrants at CAD$0.70 per share and 1,588,500 warrants were exercised at CAD$1.25 per share.