Business
Legend Power Systems Inc. Closes $10.3 Million Upsized Bought Deal Offering
VANCOUVER, BC / ACCESSWIRE / June 15, 2021 / Legend Power Systems Inc. (" Legend Power " or ...
About this update from Legend Power Systems Inc.
[{"type":"text","content":"Legend Power Systems Inc. Closes $10.3 Million Upsized Bought Deal OfferingVANCOUVER, BC / ACCESSWIRE / June 15, 2021 / Legend Power Systems Inc. (\"Legend Power\" or the \"Company\") (TSX-V:LPS) (OTCQB:LPSIF) completed its bought deal offering of units of the Company (\"Units\") previously announced May 25 and 26, 2021 (the \"Offering\"). The Offering was led by Stifel GMP,as sole bookrunner and lead underwriter on behalf of a syndicate of underwriters including Cormark Securities Inc. and Desjardins Securities Inc. (the \"Underwriters\"). The Company issued a total of 13,700,000 Units, which included the exercise of the Underwriters' over-allotment option, for proceeds of $10,275,000. The Company anticipates issuing the remaining 100,000 Units available under the Offering shortly.Each Unit consists of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.95 at any time up to 24 months following the closing date of the Offering.The Units were sold under a short form prospectus filed in all of the provinces of Canada except Quebec pursuant to National Instrument 44-101 Short Form Prospectus Distributions and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933,as amended. The securities offered have not been,nor will they be, registered under the United States Securities Act of 1933, as amended,and may not be offered or sold in the United States or to, or for the accountor benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawfulAbout Legend Power Systems Inc.Legend Power Systems Inc. (www.legendpower.com) provides an intelligent energy management platform that analyzes and improves building energy challenges, significantly impacting asset management and corporate performance. Legend's proven solutions support proactive executive decision-making in a complex and volatile business and energ...