Business
Mogo Files Final Prospectus in Connection with a Public Offering of Convertible Debentures
Mogo Files Final Prospectus in Connection with a Public Offering of Convertible Debentures...
About this update from Orion Digital Corp.
[{"type":"text","content":"\n\n\n\nMogo Files Final Prospectus in Connection with a Public Offering of Convertible Debentures\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\nCanada NewsWire\nVANCOUVER, May 24, 2017\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE OVER U.S. NEWSWIRE SERVICES/\n\n\n\nVANCOUVER, May 24, 2017 /CNW/ - Mogo Finance Technology Inc. (TSX: MOGO; OTCQX: MOGOF) (\"Mogo\" or the \"Company\") is pleased to announce that it has filed a final short form prospectus with the securities regulatory authorities in each of the provinces of Canada (other than Québec) in connection with its previously announced, commercially reasonable \"best efforts\" public offering (the \"Offering\") of up to $15 million aggregate principal amount of 10% senior secured convertible debentures (the \"Debentures\").  A receipt for the final prospectus has been issued by the securities regulatory authorities in each of the provinces of Canada (other than Québec).  The Offering is expected to close on or about May 31, 2017.\n\nMackie Research Capital Corporation, Cormark Securities Inc., Canaccord Genuity Inc., Haywood Securities Inc. and M Partners Inc. (the \"Agents\") are acting as agents under the Offering.  Mogo has granted the Agents an option (the \"Agent's Option\") exercisable at any time up to 48 hours prior to the closing of the Offering to increase the size of the Offering by up to 15%, or up to an additional $2.25 million aggregate principal amount of Debentures.\n\nNet proceeds from the Offering will be used to fund the growth of the Company's loan portfolio, with an emphasis on its long-term loan products. The Company's loans are primarily funded using two credit facilities with Fortress Credit Co LLC, with a portion of each loan being funded by the Company.  The net proceeds of the Offering will be used to satisfy such portion of each new loan. \n\nThe Toronto Stock Exchange (the \"TSX\") has conditionally approved the listing of the Debentures and the common shares issuable upon conversion of the D...