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Rocket Doctor AI Raises C$3.3 Million as it Closes the Second Tranche of a Private Placement

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Rocket Doctor AI (AIDR.CN) closed the second tranche of its private placement of unsecured convertible debentures raising C$992,000 and taking total proceeds to C$3.3 Million, it said in a Monday statement.

The debentures bear an interest rate of 12.0%, the company said. The principal amount of the debentures can be converted into units of the company priced at C$0.70 apiece. The units consist of a share and a one-year transferable warrant to buy a share for C$0.75

Proceeds will be used for working capital and general and administrative expenses, it said.

Shares of the company closed up C$0.01, or 1.7%, to C$0.61 on Friday on the Canadian Securities Exchange.

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