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CareRx Announces Increase in Bought Deal Financing to $13 Million
CareRx Announces Increase in Bought Deal Financing to $13 Million Canada NewsWi...
About this update from Carerx Corporation
[{"type":"text","content":"\n \n \n \n CareRx Announces Increase in Bought Deal Financing to $13 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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN\n \n CANADA\n \n ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n TORONTO\n \n ,\n \n Jan. 27, 2021\n \n /CNW/ - CareRx Corporation (\"\n \n CareRx\n \n \" or the \"\n \n Company\n \n \") (TSX: CRRX),\n \n Canada's\n \n leading provider of specialty pharmacy services to seniors, is pleased to announce that it has entered into an amended agreement pursuant to which Eight Capital and Cormark Securities Inc., as co-lead underwriters and joint bookrunners, together with a syndicate of underwriters (collectively, the \"\n \n Underwriters\n \n \"), have now agreed to purchase on a \"bought deal\" basis 3,059,000 common shares of the Company (the \"\n \n Shares\n \n \") at a price of\n \n $4.25\n \n per Share (the \"\n \n Issue Price\n \n ) for aggregate gross proceeds to CareRx of\n \n $13,000,750\n \n (the \"\n \n Offering\n \n \").\n \n \n The Company has granted the Underwriters an option, exercisable, in whole or in part, at any time not later than 30 days following the closing of the Offering, to purchase up to an additional 15% of the Shares at the Issue Price for market stabilization purposes and to cover over-allotments, if any (the \"\n \n Over-Allotment Option\n \n \"). If the Over-Allotment Option is exercised in full, the total gross proceeds of the Offering will be approximately\n \n $14,950,000\n \n .\n \n \n The Shares will be offered by way of (i) a prospectus supplement (the \"\n \n Prospectus Supplement\n \n \") to CareRx's short form base shelf prospectus dated\n \n September 17, 2020\n \n , which Prospectus Supplement will be filed with the securities commissions and other similar regulatory authorities in each of the provinces of\n \n Canada\n \n ; (ii) in\n \n the United States\n \n by way of private placement pursuant to the exemption from r...