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Kneat Announces $17.5 Million Bought Deal Public Offering
Kneat Announces $17.5 Million Bought Deal Public Offering Canada NewsWire ...
About this update from Kneat.com, Inc.
[{"type":"text","content":"\n \n \n \n Kneat Announces $17.5 Million Bought Deal Public Offering\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 \n NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n HALIFAX, NS\n \n ,\n \n April 7, 2021\n \n /CNW/ -\n \n kneat.com, inc.\n \n (TSXV: KSI) (\"\n \n Kneat\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has entered into an agreement with a syndicate of investment dealers co-led by Cormark Securities Inc. and CIBC Capital Markets Inc. (collectively, the \"\n \n Underwriters\n \n \") pursuant to which the Underwriters have agreed to purchase 5,833,500 common shares (the \"\n \n Common Shares\n \n \") from the treasury of the Company, at a price of\n \n $3.00\n \n per Common Share (the \"\n \n Offering Price\n \n \") and offer them to the public by way of short form prospectus for total gross proceeds of approximately\n \n $17,500,500\n \n (the \"\n \n Offering\n \n \"). The Company has granted the Underwriters an option (the \"\n \n Over-Allotment Option\n \n \") to purchase up to an additional 15.0% of the Common Shares of the Offering on the same terms exercisable at any time up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any.\n \n \n In addition, the Company intends to complete a concurrent non-brokered private placement of Common Shares at the Offering Price to certain shareholders for aggregate gross proceeds of approximately\n \n $2.0 million\n \n (the \"\n \n Concurrent Private Placement\n \n \"). The Common Shares issuable pursuant to the Concurrent Private Placement will be on the same terms as those issuable pursuant to the Offering, except that they will be subject to a statutory four month hold period in accordance with applicable securities laws.\n \n \n The Company intends to use the net proceeds of the Offering and Concurrent Private Placement for growth initiatives, working capital and general corporate purposes....