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Martello Announces $5 Million Bought Deal Public Offering of Units
Martello Announces $5 Million Bought Deal Public Offering of Units Canada NewsW...
About this update from Martello Technologies Group, Inc.
[{"type":"text","content":"\n \n \n \n Martello Announces $5 Million Bought Deal Public Offering of Units\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 /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO\n \n THE UNITED STATES\n \n ./\n \n \n \n OTTAWA, ON\n \n ,\n \n Feb. 25, 2021\n \n /CNW/ -\n \n Martello Technologies Group Inc.\n \n , (\"Martello\" or the \"Company\") (TSXV: MTLO), a provider of digital experience monitoring (\"DEM\") solutions deployed in more than 5,000 enterprise networks around the world, announced today that it has entered into an agreement with Paradigm Capital Inc. to act as sole bookrunner, on behalf of a syndicate of underwriters (collectively, the \"\n \n Underwriters\n \n \"), pursuant to which the Underwriters will purchase, on a bought deal basis, 26,316,000 units (the \"\n \n Units\n \n \") at an offering price of\n \n $0.19\n \n per Unit (the \"\n \n Offering Price\n \n \") for gross proceeds of approximately\n \n $5 million\n \n (the \"\n \n Offering\n \n \").\n \n \n \n \n \n \n \n \n \n Each Unit shall consist of one common share of the Company (a \"\n \n Common Share\n \n \"), and one-half of one common share purchase warrant (each whole warrant a \"\n \n Warrant\n \n \"). Each Warrant will entitle the holder thereof to purchase one common share of the Company (a \"\n \n Warrant Share\n \n \") at a price of\n \n $0.30\n \n for a period of two years following the closing of the Offering.\n \n \n The Company has granted the Underwriters the option (the \"\n \n Over-Allotment Option\n \n \") which will allow the Underwriters to purchase up to an additional 15% of the Offering, on the same terms as the Units. The Over-Allotment Option may be exercised in whole or in part at any time up to 30 days following the closing date of the Offering, for any number of Units, Common Shares, Warrants, or any combination thereof at a price equal to the Offering Price for a Unit and a price to be agreed u...