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Kits Eyecare Ltd. Increases Previously Announced Secondary Offering of Common Shares to $11.4 Million and Increases Block Trade of Common Shares
Kits Eyecare Ltd. Increases Previously Announced Secondary Offering of Common Shares to $11.4 Mil...
About this update from Kits Eyecare Ltd.
[{"type":"text","content":"\n\n\n\n Kits Eyecare Ltd. Increases Previously Announced Secondary Offering of Common Shares to $11.4 Million and Increases Block Trade of Common Shares\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 /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\n VANCOUVER, BC\n \n\n ,\n \n\n Sept. 6, 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 that the previously announced secondary offering of common shares of the Company (the\n \n \"Common Shares\n \n \") by\n \n Roger Hardy\n \n and entities managed by\n \n Roger Hardy\n \n (collectively, the \"\n \n Hardy Shareholders\n \n \"), LD Group Holdings Ltd. (\"\n \n LD Group\n \n \") and\n \n Joseph Thompson\n \n (together with the Hardy Shareholders and LD Group, the \"\n \n Selling Securityholders\n \n \") has been upsized (the\n \n \"Offering\n \n \").  The Offering is being led by Canaccord Genuity Corp. (\"\n \n Canaccord Genuity\n \n \" or the \"\n \n Lead Underwriter\n \n \") as sole bookrunner and lead underwriter, on behalf of a syndicate of underwriters (collectively, the \"\n \n Underwriters\n \n \"). Pursuant to the amended agreement, the size of the Offering has increased from the previously announced\n \n $10,150,000\n \n to\n \n $11,418,750\n \n , with the Underwriters agreeing to purchase on a bought deal basis an aggregate of 1,125,000 Common Shares held by the Selling Securityholders at an offering price of\n \n $10.15\n \n per share (the \"\n \n Offering Price\n \n \").\n \n\n The Lead Underwriter has also been granted an over-allotment option (the \"\n \n Over-Allotment Option\n \n \") to purchase up to an additional 168,750 Common Shares from the Selling Securityholders at the Offering Price for additional gross proceeds of\n \n $1,712,812.50\n \n if the Over-Allotment Option is exercised in full. The Over...