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Graphene Manufacturing Group Announces Size and Pricing of Previously Announced Overnight Marketed Offering
(TheNewswire) BRISBANE, QUEENSLAND, AUSTRALIA – TheNewswire - ...
About this update from Graphene Manufacturing Group Ltd
[{"type":"text","content":"Graphene Manufacturing Group Announces Size and Pricing of Previously Announced 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 13, 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 further to its previous news\nrelease dated\n \n August 12\n \n , 2021 announcing the\novernight marketed public offering (the “\n \n Offering\n \n ”) of units of the Company\n(the “\n \n Offered\n \n \n Units\n \n ”), it has entered into an\nunderwriting agreement with a syndicate of underwriters led by Cantor\nFitzgerald Canada Corporation (“\n \n CFCC\n \n ”), as lead agent and sole bookrunner, and including PI\nFinancial Corp., Echelon Wealth Partners Inc. and Haywood Securities\nInc. (collectively with CFCC, the “\n \n Underwriters\n \n ”) to sell 4,900,000 Offered Units at a price\nto the public of $2.05 per Offered Unit (the “\n \n Offering Price\n \n ”) for gross\nproceeds of C$10,045,000. Each Offered Unit is comprised of one\nordinary share in the capital of the Company (each, an “\n \n Ordinary Share\n \n ”) and one-half of\none Ordinary Share purchase warrant (each whole warrant, a “\n \n Warrant\n \n ”). Each Warrant shall\nentitle the holder to purchase one Ordinary Share at $2.60 at any time\non or before the date which is 36 months after the Closing Date (as\ndefined below).\n \n \n The Company has granted to the Underwriters an option (the “\n \n Over-Allotment Option\n \n ”),\nexercisable in whole or in part, in the sole discretion of the\nUnderwriters, for a period of 30 days from and including the closing\nof the Offering, to purchase up to an additional 735,000 Offered Units\nat the Offering Price. If the Over-Allotment Option is exercised in\nfull, the total gross proceeds to the Company will be approximately\n$1,506,750.\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 th...