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Kneat Announces Overnight Marketed Equity Financing
Kneat Announces Overnight Marketed Equity Financing Canada NewsWire HALIFAX, Feb...
About this update from Kneat.com, Inc.
[{"type":"text","content":"\n\n\n\nKneat Announces Overnight Marketed Equity Financing\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\nCanada NewsWire\nHALIFAX, Feb. 26, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n HALIFAX, Feb. 26, 2020 /CNW/ – kneat.com, inc. (TSXV: KSI) (\"Kneat\" or the \"Company\") is pleased to announce that is has filed a preliminary short form prospectus in connection with an overnight marketed offering (the \"Offering\") of common shares (the \"Securities\") from the treasury of the Company, at a price to be determined in the context of the market. The Offering will be conducted through a syndicate of underwriters co-led by Cormark Securities Inc. and Canaccord Genuity Corp. (collectively, the \"Underwriters\"). \nThe size of the Offering will be determined in the context of the market at the time of entering into a definitive underwriting agreement between the Company and the Underwriters. The Company will also grant the Underwriters an option (the \"Over-Allotment Option\") to purchase up to an additional 15% of the Securities 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.\nIn addition, the Company intends to complete a concurrent non-brokered private placement of Securities at the Offering Price to certain shareholders for aggregate gross proceeds of approximately $2.5 million (the \"Concurrent Private Placement\"). The Securities 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. \nClosing of the Offering and Concurrent Private Placement is expected to occur on or about March 12, 2020 and is subject to regulatory approval, including that of the TSX Venture Exchange.\nThe Company intends to use the net proceeds of the Offering and Con...