Business
NOWVERTICAL GROUP INC. ANNOUNCES TERMS OF $5 MILLION MARKETED PUBLIC OFFERING OF UNITS
NOWVERTICAL GROUP INC. ANNOUNCES TERMS OF $5 MILLION MARKETED PUBLIC OFFERING OF UNITS ...
About this update from Nowvertical Group Inc
[{"type":"text","content":"\n \n \n \n NOWVERTICAL GROUP INC. ANNOUNCES TERMS OF $5 MILLION MARKETED 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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR\n \n \n \n \n FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Feb. 22, 2023\n \n \n /CNW/ -\n \n NowVertical Group Inc.\n \n (TSXV: NOW) (\"\n \n NOW\n \n \" or the \"\n \n Company\n \n \"), is pleased to announce the terms of its previously announced marketed public offering (the \"\n \n Offering\n \n \") of units (the \"\n \n Units\n \n \") of the Company. The Company intends to issue up to 9,615,500 Units at a price of\n \n $0.52\n \n per Unit (the \"\n \n Issue\n \n \n Price\n \n \"), for aggregate gross proceeds of up to\n \n $5,000,060\n \n . The Offering is led by Beacon Securities Limited (\"\n \n Beacon\n \n \"), on behalf of a syndicate of agents including Canaccord Genuity Corp. and Echelon Wealth Partners Inc. (together with Beacon, the \"\n \n Agents\n \n \"). Each Unit will consist of one subordinate voting share in the capital of the Company (a \"\n \n Subordinate Voting Share\n \n \") and one Subordinate Voting Share purchase warrant (a \"\n \n Warrant\n \n \") of the Company. Each Warrant will entitle the holder thereof to acquire one Subordinate Voting Share (a \"\n \n Warrant Share\n \n \") at a price per Warrant Share of\n \n $0.80\n \n for a period of 36 months following the Closing Date (as defined below).\n \n \n The Company has granted the Agents an option (the \"\n \n Over-Allotment Option\n \n \"), exercisable at the sole discretion of the Agents, in whole or in part, by Beacon, on its own behalf and on behalf of the Agents, giving notice to the Company at any time and from time to time up to 30 days following the Closing Date, to sell up to an additional number of Units (the \"\n \n Additional Units\n \n \") equal to 15% of the aggregate number of Units sold pursuant to the Offering at a price per Additi...