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Kneat Announces Upsize of the Previously Announced Bought Deal Public Offering to $17.4 Million
Kneat Announces Upsize of the Previously Announced Bought Deal Public Offering to $17.4 Million ...
About this update from Kneat.com, Inc.
[{"type":"text","content":"\n \n \n \n Kneat Announces Upsize of the Previously Announced Bought Deal Public Offering to $17.4 Million\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 /\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 \n \n HALIFAX, NS\n \n \n ,\n \n \n Jan. 24, 2024\n \n \n /CNW/ -\n \n kneat.com, inc.\n \n (TSX: KSI) (\"\n \n Kneat\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has amended its agreement with a syndicate of investment dealers led by Cormark Securities Inc. (the \"\n \n Underwriters\n \n \") and have agreed to increase the size of its previously announced\n \n $15.0 million\n \n \"bought deal\" public offering. Pursuant to the upsized deal terms, the Underwriters have agreed to purchase 5,351,200 common shares (the \"\n \n Common Shares\n \n \") from the treasury of the Company, at a price of\n \n $3.25\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 $17,391,400\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. In the event that the Over-Allotment Option is exercised in its entirety, the aggregate gross proceeds of the Offering shall be\n \n $20,000,110\n \n .\n \n \n The Company intends to use the net proceeds of the Offering for growth initiatives, working capital and general corporate purposes.\n \n \n Closing of the Offering is expected to occur on or about\n \n February 14, 2024\n \n , and is subject to regulatory approval including that of the Toronto Stock Exchange.\n \n \n The Common Shares to be issued under the Offering will be offered by way of a short form ...