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Nano One Announces Closing of $28.9 Million Bought Deal Offering Over-Allotment Option Exercised in Full
Vancouver, British Columbia--(Newsfile Corp. - April 1, 2021) - Nano One® Materials Corp....
About this update from Nano One Materials Corp
[{"type":"text","content":"Nano One Announces Closing of $28.9 Million Bought Deal Offering Over-Allotment Option Exercised in FullVancouver, British Columbia--(Newsfile Corp. - April 1, 2021) - Nano One® Materials Corp. (TSXV: NNO) (OTC Pink: NNOMF) (FSE: LBMB) (\"Nano One\" or the \"Company\"), a technology company with a patented and scalable industrial process for the production of low cost, high performance cathode materials used in lithium-ion batteries, today is pleased to announce that it has closed its previously announced bought deal financing (the \"Offering\"). The Company issued a total of 5,405,000 common shares (the \"Common Shares\") at an offering price of $5.35 per Common Share (the \"Issue Price\"), which included 705,000 Common Shares issued pursuant to the exercise of the over-allotment option, in full, for gross proceeds of approximately $28.9 million. The Common Shares were offered on a bought deal basis by a syndicate of underwriters led by TD Securities Inc. and Roth Canada, ULC (the \"Lead Underwriters\") and Eight Capital and Gravitas Securities Inc. (together with the Lead Underwriters, the \"Underwriters\").In connection with the Offering the Company paid the Underwriters a cash fee of 6% of the aggregate gross proceeds raised from the Offering and issued to the Underwriters 324,299 non-transferable compensation warrants (the \"Compensation Warrants\") equal to 6% of the number of Common Shares sold under the Offering. Each Compensation Warrant is exercisable into one Common Share at the Issue Price for a period of 12 months following closing, expiring April 1, 2022.The Company intends to use the net proceeds of the Offering for ongoing research and development, pilot plant expansion, business development and strategic initiatives with partners and collaborators and for general corporate purposes.This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being 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 absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amen...