Business
EMERGE Commerce Ltd. Announces Upsizing of Private Placement Offering of Special Warrants Due to Strong Investor Demand
EMERGE Commerce Ltd. Announces Upsizing of Private Placement Offering of Special Warrants...
About this update from Emerge Commerce Ltd
[{"type":"text","content":"\n \n \n \n EMERGE Commerce Ltd. Announces Upsizing of Private Placement Offering of Special Warrants Due to Strong Investor Demand\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 Feb. 22, 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 \"), is pleased to announce the increase of its previously announced private placement offering (the \"\n \n Offering\n \n \") of special warrants of the Company (the \"\n \n Special Warrants\n \n \"). Pursuant to the Offering, the Company expects to issue Special Warrants at a price of\n \n $1.40\n \n per Special Warrant for total gross proceeds of up to\n \n $13,000,000\n \n .\n \n \n Canaccord Genuity Corp. and Gravitas Securities Inc. are acting as co-bookrunners and co-lead agents for the Offering, together with Raymond James Ltd., as co-lead agent and Stifel Nicolaus Canada Inc. (together, the \"\n \n Agents\n \n \").\n \n \n The Offering is expected to close during the week of\n \n March 8, 2021\n \n , or such other date as the Company and the Agents may agree (the \"\n \n Closing Date\n \n \"). Closing of the Offering will be subject to customary closing conditions, including the receipt of all necessary regulatory approvals.\n \n \n In addition, the Company has granted the Agents an option exercisable in whole or in part, at any time up until 48 hours prior to the Closing Date, to increase the size of the Offering by up to 15% of the number of Special Warrants sold pursuant to the Offering, on the same terms and conditions as the Offering.\n \n \n The Company intends to use the net proceeds of the Offering for potential acquisitions, working capital and general corporate purposes.\n \n \n \n About EMERGE:\n \n \n \n EMERGE is a disciplined, diversified, rapidly growing acquirer and operator of niche e-commerce brands across\n \n North America\n \n . Our network of e-commerce sites provides our members with access to groceries, golf, nearby escapes, and family offers. Our portfolio houses som...