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Bragg Gaming Group Inc. Announces $12.5 Million Bought Deal Public Offering
Bragg Gaming Group Inc. Announces $12.5 Million Bought Deal Public Offering Can...
About this update from Bragg Gaming Group Inc.
[{"type":"text","content":"\n\n \n \n \n Bragg Gaming Group Inc. Announces $12.5 Million Bought Deal Public Offering\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 TORONTO, Oct. 26, 2020\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n TORONTO\n \n ,\n \n Oct. 26, 2020\n \n /CNW/ - Bragg Gaming Group Inc. (TSXV: BRAG) (OTC: BRGGF) (the \"\n \n Company\n \n \" or \"\n \n Bragg\n \n \") is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Cormark Securities Inc. and Canaccord Genuity Corp. (collectively, the \"\n \n Underwriters\n \n \") pursuant to which the Underwriters have agreed to purchase 17,860,000 units (the \"\n \n Units\n \n \") from the treasury of the Company, at a price of\n \n $0.70\n \n per Unit and offer them to the public by way of short form prospectus for total gross proceeds of approximately\n \n $12.5 million\n \n (the \"\n \n Offering\n \n \").\n \n \n Each Unit will consist of one Common Share (each a \"\n \n Common Share\n \n \") of the Company and one half of one Warrant (each whole warrant, a \"\n \n Warrant\n \n \") of the Company. Each Warrant will entitle the holder thereof to purchase one Common Share at a price equal to\n \n $1.00\n \n for a period of 36 months following the closing of the Offering. The Warrants will include an acceleration provision, exercisable at the Company's option, if the Company's daily volume weighted average share price is greater than\n \n $1\n \n .50 for at least ten consecutive trading days.\n \n \n In addition, the Company has granted the Underwriters an option (the \"\n \n Over-Allotment Option\n \n \") to purchase up to an additional 15% of the Units of the Offering on the same terms exercisable at any time up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any.\n \n \n The net proceeds of the Offering shall be used for growth initiatives...