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Bragg Gaming Group Inc. Announces Upsize of Previously Announced Bought Deal Public Offering to $18 Million
Bragg Gaming Group Inc. Announces Upsize of Previously Announced Bought Deal Public Offer...
About this update from Bragg Gaming Group Inc.
[{"type":"text","content":"\n \n \n \n Bragg Gaming Group Inc. Announces Upsize of Previously Announced Bought Deal Public Offering to $18 Million\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. 27, 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. 27, 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 amended its agreement with a syndicate of underwriters led by Cormark Securities Inc. and Canaccord Genuity Corp. (collectively the \"\n \n Underwriters\n \n \") and have agreed to increase the size of its previously announced\n \n $12.5 million\n \n \"bought deal\" public offering. Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a \"bought deal basis\", 25,715,000 units (\"\n \n Units\n \n \") in the capital of the Company, at a price of\n \n $0.70\n \n per Unit (the \"\n \n Issue Price\n \n \") for aggregate gross proceeds of\n \n $18,000,500\n \n (the \"\n \n Offering\n \n \").\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. In the event that the Over-Allotment Option is exercised in its entirety, the aggregate gross proceeds of the Offering shall be\n \n $20,700,575\n \n .\n \n \n The Offering is scheduled to close on or about\n \n November 17, 2020\n \n and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and any applicable securities regulatory authorities.\n \n \n The net proceeds of the Offering shall be used for growth initiatives, wor...