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Propel Announces Closing of Over-Allotment Option in Connection With Its Initial Public Offering
Propel Announces Closing of Over-Allotment Option in Connection With Its Initial Public O...
About this update from Propel Holdings, Inc.
[{"type":"text","content":"\n \n \n \n Propel Announces Closing of Over-Allotment Option in Connection With Its Initial 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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n TORONTO\n \n ,\n \n Oct. 26, 2021\n \n /CNW/ - Propel Holdings Inc. (\"\n \n Propel\n \n \" or the \"\n \n Company\n \n \") (TSX: PRL) announced today that, further to its recently completed initial public offering (the \"\n \n Offering\n \n \") of common shares of the Company (\"\n \n Common Shares\n \n \", and each a \"\n \n Common Share\n \n \"), the over-allotment option granted by the Company to the Underwriters (as defined below) to purchase an additional 937,500 Common Shares from the Company at a price of\n \n C$9.75\n \n per Common Share (the \"\n \n Over-Allotment Option\n \n \") was exercised in full. The Company received aggregate gross proceeds of\n \n C$9,140,625\n \n in connection with the Over-Allotment Option, which closed today. As a result of the exercise of the Over-Allotment Option in full, the aggregate gross proceeds from the Offering will total\n \n C$70,078,125\n \n .\n \n \n The Common Shares are listed and have been trading on the Toronto Stock Exchange (\"\n \n TSX\n \n \") since\n \n October 20\n \n , 2021 under the symbol \"PRL\".\n \n \n The Offering was made through a syndicate of underwriters led by Canaccord Genuity and Scotiabank, as joint bookrunners, and Raymond James, TD Securities, INFOR Financial, Roth Canada and Stifel Nicolaus Canada (collectively, the \"\n \n Underwriters\n \n \").\n \n \n The Offering was completed pursuant to the Company's final prospectus dated October 13, 2021 (the \"\n \n Prospectus\n \n \") and filed with the securities regulators in each of the provinces and territories of\n \n Canada\n \n . A copy of the Prospectus is available on SEDAR at\n \n www.sedar.com\n \n .\n \n \n No securities regulato...