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Izotropic closes IPO

Izotropic Corp. closed its IPO of 2 million common shares at 10 Canadian cents each to raise C$200,000.

British Columbia-based Izotropic is a healthcare equipment company focusing on research and development as well as engaging in the commercialization of diagnostic products for breast cancer.

The company's shares have been listed on the Canadian Securities Exchange, effective May 31, and will begin trading on June 4 under the symbol IZO.

The IPO's closing and listing of Izotropic's shares on the Canadian Securities Exchange triggered the requirement of Robert Thast, CEO and director, to file an early warning report, as immediately before the closing, he owned 6,366,667 shares, 1,183,333 warrants and 200,000 options, all of which were acquired or granted before the IPO closed.

Thast's ownership of the securities represented ownership of about 28.30% and 25.62% of the company's issued and outstanding shares immediately after closing of the IPO on a nondiluted and partially diluted basis, respectively.