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Baylin Provides Further Details Regarding $10 Million Private Placement
Baylin Provides Further Details Regarding $10 Million Private Placement Canada ...
About this update from Baylin Technologies, Inc.
[{"type":"text","content":"\n \n \n \n Baylin Provides Further Details Regarding $10 Million Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES\n \n OR FOR DISSEMINATION IN\n \n THE UNITED STATES OF AMERICA\n \n /\n \n \n \n \n TORONTO\n \n ,\n \n Aug. 11, 2021\n \n /CNW/ - Baylin Technologies Inc. (TSX: BYL) (the \"\n \n Company\n \n \") provides further details regarding its previously announced proposed best efforts private placement financing (the \"\n \n Offering\n \n \") of 11,112,000 common shares of the Company (the \"\n \n Common Shares\n \n \") at a price of\n \n $0.90\n \n per Common Share (the \"\n \n Issue Price\n \n \") for total proceeds of approximately\n \n $10 million\n \n .\n \n \n \n \n \n \n \n \n \n In connection with the Offering, the Company has entered into an engagement letter with Paradigm Capital Inc., as lead agent, on behalf of a syndicate of agents (collectively, the \"\n \n Agents\n \n \"). The Company has granted the Agents an option to sell up to an additional 15% of the number of Common Shares offered pursuant to the base Offering for over-allotment purposes at the Issue Price, exercisable, in whole or in part, at any time until 48 hours prior to the closing of the Offering. The terms of the Offering (including the pricing of the Common Shares being sold in the Offering) are being negotiated on an arm's length basis between the Company and the Agents.\n \n \n The net proceeds from the Offering will be used for general working capital purposes and for the repayment of outstanding debt.\n \n \n The Offering is expected to close on or about\n \n September 1, 2021\n \n , or such other date as the Company and the Agents may agree in writing (the \"\n \n Closing Date\n \n \"), and will be subject to receipt of applicable regulatory approvals and other customary closing conditions, including listing of the Common Shares on the Toronto Stock Exchange (\"\n \n TSX\n \n \"). The Common Shares sold in the Offering will have a hold peri...