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NEXE Innovations Inc. Announces an Increase to Previously Announced Bought Deal Public Offering
NEXE Innovations Inc. Announces an Increase to Previously Announced Bought Deal Public Of...
About this update from Nexe Innovations Inc
[{"type":"text","content":"\n \n \n \n NEXE Innovations Inc. Announces an Increase to Previously Announced Bought Deal Public Offering\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 /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN\n \n CANADA\n \n ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n VANCOUVER, BC,\n \n April 7, 2021\n \n /CNW/ - NEXE Innovations Inc. (\"NEXE\" or the \"Company\"), is pleased to announce that it has entered into an amended agreement with a syndicate of underwriters led by Canaccord Genuity Corp. to increase the size of the previously announced bought deal financing. Pursuant to the amended terms, the Underwriters have agreed to purchase, on a bought deal basis, an aggregate of 15,000,000 units (the \"Units\") of the Company at a price of\n \n C$2.00\n \n per Unit (the \"Offering Price\") for aggregate gross proceeds to the Company of\n \n C$30 million\n \n (the \"Offering\").\n \n \n Each Unit will consist of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (a \"Warrant\"). Each whole Warrant will be exercisable to acquire one Common Share (a \"Warrant Share\") for a period of 2 years following the closing of the Offering (the \"Closing\") at an exercise price of\n \n C$2.50\n \n per Warrant Share.\n \n \n The Company has granted the Underwriters an option (the \"Over-Allotment Option\"), to purchase additional Units from the company equal to a further 15% of the number of Units sold pursuant to the Offering at the Offering Price, exercisable at any time, for a period of 30 days after and including the Closing Date.\n \n \n The Company intends to use the net proceeds of the Offering to increase production capacity, strategic acquisitions, new product developments and for general corporate purposes.\n \n \n The Units will be issued pursuant to a prospectus supplement that will be filed with the securities  regulatory  authorities in all provinces of\n \n Ca...