The rights share is priced at a discount of 60.5% off ISOTeam's June 26 close of 7.6 cents.
ISOTeam plans to raise up to $10.3 million in net proceeds via a one-for-one rights issue, to pay down debt and to generate more working capital to help the company recover from the pandemic-induced downturn.
Under terms of the rights issue, which is not underwritten, eligible shareholders can subscribe for a new share at 3 cents each, for every existing share they already own.
