Business
Parkit Announces $50 Million Bought Deal Private Placement Financing and up to $15 Million Concurrent Private Placement
Parkit Announces $50 Million Bought Deal Private Placement Financing and up to $15 Millio...
About this update from Parkit Enterprise Inc.
[{"type":"text","content":"\n \n \n \n Parkit Announces $50 Million Bought Deal Private Placement Financing and up to $15 Million Concurrent Private Placement\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 /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n TORONTO\n \n ,\n \n Jan. 26, 2021\n \n /CNW/ - Parkit Enterprise Inc. (\"Parkit\" or the \"Company\") (TSXV: PKT) (OTC: PKTEF), is pleased to announce that it has entered into an agreement with Stifel GMP and Scotiabank as Joint-Bookrunners on their own behalf and on behalf of a syndicate of underwriters (collectively, the \"Underwriters\"), pursuant to which the Underwriters have agreed to purchase, on a bought deal private placement basis, 52,700,000 common shares (\"Common Shares\") of the Company at a price of\n \n $0.95\n \n per Offered Share (the \"Offering Price\"), for aggregate gross proceeds of\n \n $50,065,000\n \n (the \"Offering\").\n \n \n The Underwriters have also been granted an option, exercisable in whole or in part any time up to 48 hours prior to the closing date of the Offering, to purchase for resale up to an additional 7,905,000 Common Shares at the Offering Price, for aggregate gross proceeds to the Company of\n \n $57,574,750\n \n in the event the Underwriters exercise this option in full.\n \n \n Concurrent with the Offering, the Company may issue and sell additional Common Shares for additional aggregate gross proceeds of up to\n \n $15,000,000\n \n on the same terms as the Offering to subscribers designated by the Company.\n \n \n The Company plans to use the net proceeds from the sale of Common Shares for future acquisitions and for general corporate purposes. The Offering is scheduled to close on or about\n \n February 17, 2021\n \n (the \"Closing Date\") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.\n \n \n The Common Shares will be subject t...