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Kits Eyecare Ltd. Announces Closing of Over-Allotment Option
Kits Eyecare Ltd. Announces Closing of Over-Allotment Option Canada NewsWire /T...
About this update from Kits Eyecare Ltd.
[{"type":"text","content":"\n\n\n\n Kits Eyecare Ltd. Announces Closing of Over-Allotment Option\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 /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Oct. 11, 2024\n \n\n /CNW/ -\n \n Kits Eyecare Ltd.\n \n (TSX: KITS) (\"\n \n KITS\n \n \" or the \"\n \n Company\n \n \"), a leading vertically integrated eyecare provider, is pleased to announce the closing of the over-allotment option (the \"\n \n Over-Allotment Option\n \n \") in connection with its previously announced secondary offering of common shares of the Company (the \"\n \n Common Shares\n \n \"). Canaccord Genuity Corp., as sole bookrunner and co-lead underwriter, together with Beacon Securities Limited, as co-lead underwriter, on behalf of a syndicate of underwriters (collectively, the \"\n \n Underwriters\n \n \") elected to exercise the Over-Allotment Option in full and purchased, on a bought deal basis, an aggregate of 168,750 additional Common Shares held by\n \n 0999849 B\n \n .C. Ltd, an entity controlled by\n \n Roger Hardy\n \n (the \"\n \n Hardy Shareholder\n \n \"), LD Group Holdings Ltd., an entity controlled by Arshil Abdulla (\"\n \n LD Group\n \n \") and\n \n Joseph Thompson\n \n (together with the Hardy Shareholder and LD Group, the \"\n \n Selling Securityholders\n \n \") at a price of\n \n $10.15\n \n per share for total gross proceeds to the Selling Securityholders of\n \n $1,712,812.50\n \n . KITS did not receive any proceeds from the Over-Allotment Option.\n \n\n\n\n\n\n\n\n\n Immediately following the closing of the Over-Allotment Option,\n \n Roger Hardy\n \n , directly or indirectly, owns or controls an aggregate of 9,014,110 Common Shares, representing approximately 28.5% of the issued and outstanding Common Shares; the LD Group, directly or indirectly, owns or controls 10,498,089 Common Shares, representing approximately 33.2% of the issued and outstanding Common Shares; and\n \...