Business
Graphene Manufacturing Group Announces Overnight Marketed Offering
(TheNewswire) BRISBANE, QUEENSLAND, AUSTRALIA - TheNewswire – ...
About this update from Graphene Manufacturing Group Ltd
[{"type":"text","content":"Graphene Manufacturing Group Announces Overnight Marketed Offering\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n BRISBANE, QUEENSLAND, AUSTRALIA -\n \n \n TheNewswire\n \n \n – August 12, 2021 -\n \n \n Graphene Manufacturing Group (“\n \n \n GMG\n \n \n ” or the\n“\n \n \n Company\n \n \n ”)\n \n \n (TSXV:GMG)\n \n \n is pleased to announce that\n \n it is undertaking an overnight\nmarketed public offering of units (the “\n \n Offered Units\n \n ”) of the Company for\ngross proceeds of up to CDN$10.0 million (the “\n \n Offering\n \n ”). The Offering is\nexpected to be completed pursuant to an underwriting agreement to be\nentered into between the Company and Cantor Fitzgerald Canada\nCorporation, as lead underwriter and sole bookrunner, on behalf of a\nsyndicate of underwriters to be determined (collectively, the “\n \n Underwriters\n \n ”).\n \n \n Each Offered Unit\n \n will consist of one ordinary share in\nthe capital of the Company (an \"\n \n \n Offered Share\n \n \n \")\nand one-half of one ordinary share purchase warrant (each whole\nordinary share purchase warrant, a \"\n \n \n Warrant\n \n \n \"). Each\nWarrant will be exercisable to purchase one ordinary share in the\ncapital of the Company (a \"\n \n \n Warrant Share\n \n \n \").\n \n The number of\nOffered Units to be so\n \n \n ld, the offering\nprice (the “\n \n Offering\nPrice\n \n ”) and the terms of the Offered Units, including the\nterms to exercise the Warrants, will be determined in the course of\nmarketing and there can be no assurance as to completion of the\nOffering. In addition, the Company will grant the Underwriters an\nover-allotment option (the “\n \n Over-Allotment Option\n \n ”) exercisable, in whole or in part,\nin the sole discretion of the Underwriters, to purchase up to an\nadditional 15% of the number of Offered Units sold in the Offering for\nup to 30 days after the closing, on the same terms and conditions as\nthe Offering.\n \n \n The Company will pay the Underwriters a cash commission equal to 6.0%\nof the gross proceeds of the Offering, including proceeds received\nfrom the exercise of the Over-Allotment Option, in addition to broker\nwarrants to purchase up to 3.0% of the number of Offered Units,\nincluding the Offered Units from...