Business
NexLiving Announces Closing of Oversubscribed Marketed Common Share Offering
NexLiving Announces Closing of Oversubscribed Marketed Common Share Offering Ca...
About this update from Nexliving Communities Inc
[{"type":"text","content":"\n \n \n \n NexLiving Announces Closing of Oversubscribed Marketed Common Share 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 /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 HALIFAX, NS\n \n ,\n \n Nov. 26, 2021\n \n /CNW/ - (TSXV: NXLV) NexLiving Communities Inc. (\"NexLiving\" or the \"Company\") is pleased to announce that it has closed today on its previously announced marketed offering of common shares (the \"Offering\"). Pursuant to the Offering, the Company issued 100,000,000 shares at a price of\n \n $0.20\n \n per share for gross proceeds of\n \n $20,000,000\n \n . The Offering was led by Echelon Capital Markets and CIBC Capital Markets as co-lead agents and co-bookrunners, on behalf of a syndicate of agents including Cormark Securities Inc., Desjardins Securities Inc., Scotia Capital Inc., Canaccord Genuity Corp., iA Private Wealth Inc. and Richardson Wealth Limited  (collectively the \"Agents\"). The Company has granted the Agents an option to purchase an additional 15% of the shares sold under the Offering (the \"Over-Allotment Option\"). The Over-Allotment Option may be exercised in whole, or in part, as determined by the Agents' upon written notice to the Company at any time up to 30 days following the closing date of the Offering. In addition, as previously announced, NexLiving has agreed to a non-brokered private placement (the \"Private Placement\") on the same pricing terms as the Offering, which has been upsized from\n \n $4,000,000\n \n to\n \n $4,450,000\n \n . Closing of the Private Placement is subject to a number of conditions, including the approval of the TSX Venture Exchange.\n \n \n \n \n \n \n \n \n \n NexLiving intends to use a portion of the gross proceeds to fund the equity requirements of the previously announced acquisition of ten recently constructed apartment properties comprised of 370 units in\n \n Moncton\n \n and\n \n Riverview, New Brunswick\n \n , for an aggregate purchase ...