Business
Coho Collective Kitchens Inc. Completes Initial Public Offering
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2022) - Coho Collective Kitchens Inc. (...
About this update from Purebread Brands Inc.
[{"type":"text","content":"Coho Collective Kitchens Inc. Completes Initial Public OfferingVancouver, British Columbia--(Newsfile Corp. - June 9, 2022) - Coho Collective Kitchens Inc. (\"Coho\" or the \"Company\") announced today the successful closing of its initial public offering (the \"Offering\") of 16,666,670 common shares (the \"Common Shares\", and each a \"Common Share\") of Coho at a price of $0.30 per Common Share (the \"Offering Price\") for aggregate gross proceeds of $5,000,001.The Common Shares were listed on the TSX Venture Exchange (the \"TSXV\") on June 9, 2022, and immediately halted. The Common Shares will commence trading on the TSXV on June 13, 2022, under the trading symbol \"COHO\".\"Today is an important milestone in Coho's history as we enter the public markets and enhance our ability to seize opportunities and continue to grow our business\" said Andrew Barnes, Chief Executive Officer of Coho. \"We are thrilled by the response to our IPO and want to express gratitude to the investors who brought us to this point and also those new shareholders participating in this offering. We look forward to delivering value for you.\"Canaccord Genuity Corp. was the sole agent (the \"Agent\"). Fasken Martineau DuMoulin LLP acted as legal counsel to the Company and DLA Piper (Canada) LLP acted as legal counsel to the Agent. DCML, Chartered Professional Accountants are the auditors for the Company.The Company paid to the Agent a commission equal to 8% of the Offering (payable in cash and Common Shares). The Company also granted the Agent a compensation warrant to purchase up to 1,333,333 Common Shares at the Offering Price until June 9, 2024. The Agent also received a corporate finance fee of $100,000 (payable in cash and Common Shares) and was reimbursed for certain customary expenses incurred in connection with the IPO.Coho has also granted the Agent an over-allotment option (the \"Over-Allotment Option\"), exercisable in whole or in part for a period of 30 days following the closing of the Offering, to purchase up to an aggregate number of additional Common Shares as is equal to 15% of the aggregate number of Common Shares issued pursuant to the Offering at the Offering Price for additional gross proceeds of up to $750,000 (if the Over-Allotment Option is exercised in full). In connection with certain services provided by the Agent, Coho inten...