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EMERGE COMMERCE LTD. ANNOUNCES MARKETED PUBLIC OFFERING CO-LED BY ECHELON CAPITAL MARKETS AND RAYMOND JAMES
EMERGE COMMERCE LTD. ANNOUNCES MARKETED PUBLIC OFFERING CO-LED BY ECHELON CAPITAL MARKETS...
About this update from Emerge Commerce Ltd
[{"type":"text","content":"\n \n \n \n EMERGE COMMERCE LTD. ANNOUNCES MARKETED PUBLIC OFFERING CO-LED BY ECHELON CAPITAL MARKETS AND RAYMOND JAMES\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 THE U.S. NEWSWIRE OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Nov. 1, 2022\n \n \n /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) (\"\n \n EMERGE\n \n \", or the \"\n \n Company\n \n \"), a diversified acquiror and operator of niche e-commerce brands, is pleased to announce that it has launched a marketed public offering (the \"\n \n Offering\n \n \") of convertible debenture units (the \"\n \n Debenture Units\n \n \") of the Company for gross proceeds of up to\n \n $4,000,000\n \n or such other amount as may be determined by the Company and the Agents (as defined below). In connection with the Offering, the Company has engaged Echelon Capital Markets and Raymond James Ltd., as co-lead agents and joint bookrunners, (together, the \"\n \n Co-Lead Agents\n \n \") together with a syndicate of agents, including Gravitas Securities Inc. and Canaccord Genuity Corp. (together with the Co-Lead Agents, the \"\n \n Agents\n \n \").\n \n \n Each Debenture Unit will consist of one 10.0% senior unsecured convertible debenture (each a \"\n \n Convertible Debenture\n \n \") of the Company having a face value of\n \n $1,000\n \n (the \"\n \n Principal Amount\n \n \") and 4,000 common share purchase warrants of the Company (each a \"\n \n Warrant\n \n \").\n \n \n The Convertible Debentures, including any Convertible Debentures issued on exercise of the Over-Allotment Option (as defined below), will mature 36 months from the Closing Date (as defined below) (the \"\n \n Maturity Date\n \n \"). The Principal Amount per Convertible Debenture, shall be convertible, for no additional consideration, into common shares of the Company (the \"\n \n Common Shares\n \n \") at the option of the holder in whole or in part at any time and from time to time prior to the earlier o...