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Elevate Service Group Closes Additional $1.0 Million Private Placement at a Premium to Accommodate Strategic Investors
Incremental financing reflects continued investor demand following Elevate's successful public listing, and strengthens the Company's balance sheet to support near-term executionToronto, Ontario--(Newsfile Corp. - December 16, 2025) - Elevate Service Group Inc. (TSXV: SERV) ("Elevate" or the "Company") is pleased to announce that it has closed an additional non-brokered private placement (the "Offering") of 953,000 common shares at a price of $1.05 per common share for gross proceeds of...
About this update from Serve Robotics Inc.
[{"type":"text","content":"Incremental financing reflects continued investor demand following Elevate's successful public listing, and strengthens the Company's balance sheet to support near-term execution","length":186,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - December 16, 2025) - Elevate Service Group Inc. (TSXV: SERV) ("Elevate" or the "Company") is pleased to announce that it has closed an additional non-brokered private placement (the "Offering") of 953,000 common shares at a price of $1.05 per common share for gross proceeds of approximately $1.0 million.","length":371,"tagName":"p"},{"type":"text","content":"The Offering was selectively opened to accommodate a small number of strategic investors following the Company's successful public listing. The financing was completed at a premium to Elevate's previously announced $9.1 million private placement at $1.00 per share, which formed part of the Company's qualifying transaction and public listing completed in November 2025.","length":382,"tagName":"p"},{"type":"text","content":"Net proceeds from the Offering will be used to strengthen Elevate's balance sheet, support working capital requirements, advance organic growth initiatives, and provide additional flexibility to pursue potential strategic acquisitions.","length":239,"tagName":"p"},{"type":"text","content":""Following our public listing, we were approached by a number of strategic investors who expressed interest to participate in Elevate's growth," said Paul Bissett, Chief Executive Officer of Elevate. "We made a deliberate decision to modestly increase our equity capital at a premium valuation to accommodate these investors while maintaining balance sheet discipline and minimizing dilution. Combined with the $9.1 million raised in November, total equity capital raised now exceeds our original $10.0 million target established as part of the qualifying transaction."","length":593,"tagName":"p"},{"type":"text","content":"Elevate paid cash finder's fees of 6.0%, representing $60,039, and issued compensation options of 6.0%, representing 57,180 options. Each compensation option entitles the holder to acquire one common share of Elevate at an exercise price of $1.25 per share for a pe...