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EMERGE Announces Closing of Upsized $11.9 Million Private Placement of Special Warrants Led by Canaccord Genuity and Gravitas Securities
EMERGE Announces Closing of Upsized $11.9 Million Private Placement of Special Warrants L...
About this update from Emerge Commerce Ltd
[{"type":"text","content":"\n \n \n \n EMERGE Announces Closing of Upsized $11.9 Million Private Placement of Special Warrants Led by Canaccord Genuity and Gravitas Securities\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 \n TORONTO\n \n ,\n \n March 10, 2021\n \n /CNW/ -\n \n \n EMERGE Commerce Ltd.\n \n \n (TSXV: ECOM) (\"\n \n EMERGE\n \n \" or the\n \n \"Company\n \n \"), a leading acquirer and operator of direct-to-consumer e-commerce brands, is pleased to announce that it has closed the first tranche of its upsized (and oversubscribed) private placement offering of special warrants of the Company (\"\n \n Special Warrants\n \n \") for aggregate gross proceeds of almost\n \n $11.9 million\n \n (the \"\n \n Offering\n \n \"). The Offering consisted of a brokered portion (the \"\n \n Brokered Private Placement\n \n \") and a non-brokered portion (the \"\n \n Non-brokered Private Placement\n \n \") for aggregated gross proceeds of\n \n $11,618,600\n \n and\n \n $238,798\n \n , respectively. Pursuant to the Offering, a total of 8,469,570 Special Warrants were sold at a price per Special Warrant of\n \n $1.40\n \n (the \"\n \n Offering Price\n \n \").\n \n \n The Brokered Private Placement was led by Canaccord Genuity Corp. and Gravitas Securities Inc., as co-bookrunners (the \"\n \n Bookrunners\n \n \"), together with Raymond James Ltd., as co-lead agents and Stifel Nicolaus Canada Inc. (collectively with the Bookrunners, the \"\n \n Agents\n \n \").\n \n \n Each Special Warrant is exercisable for one common share in the capital of the Company (a \"\n \n Common Share\n \n \") at no additional cost. Each Common Share resulting from such exercise, is referred to as an \"\n \n Offering\n \n \n Share\n \n \".\n \n \n The Special Warrants were created and issued pursuant to, and are governed by, the terms of a special warrant indenture between the Company and TSX Trust Company, as indenture trustee.\n \n \n The Company has agreed to prepare and file, with each of the securities regulatory authorities in the provinces of\n \n Canada\n \n in which the Special ...