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Tantalus Announces Pricing and Terms of Overnight Marketed Public Offering
Tantalus Announces Pricing and Terms of Overnight Marketed Public Offering Cana...
About this update from Tantalus Systems Holding Inc
[{"type":"text","content":"\n \n \n \n Tantalus Announces Pricing and Terms of Overnight Marketed 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 \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR THROUGH US NEWSWIRE SERVICES/\n \n \n \n \n \n BURNABY, BC\n \n ,\n \n Aug. 4, 2021\n \n /CNW/ - Tantalus Systems Holding Inc. (TSX: GRID) (\"\n \n Tantalus\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has priced its previously announced  overnight marketed public offering of common shares (the \"\n \n Offering\n \n \") of the Company (the \"\n \n Common Shares\n \n \"). Pursuant to the Offering, the Company intends to issue Common Shares at a price of\n \n C$2.25\n \n per Common Share (the \"\n \n Offering Price\n \n \") for gross proceeds of up to\n \n C$10 million\n \n .\n \n \n The Offering is expected to be completed pursuant to an underwriting agreement to be entered into among Canaccord Genuity Corp. and Cormark Securities Inc. as co-lead underwriters and joint bookrunners for the Offering, and a syndicate of underwriters (collectively, the \"\n \n Underwriters\n \n \").\n \n \n The Offering is expected to close on or about\n \n August 12, 2021\n \n and will be subject to  customary conditions, including approval of the Toronto Stock Exchange (the \"\n \n TSX\n \n \").\n \n \n In addition, the Company intends to grant the Underwriters a 30-day option to purchase up to an additional 15% of the Common Shares offered in the proposed Offering on the same terms and conditions (the \"\n \n Over-Allotment Option\n \n \") for market stabilization purposes and to cover overallotments. The Over-Allotment Option may be exercised in whole or in part to purchase Common Shares.\n \n \n In consideration for their services to be provided in connection with the Offering, the Underwriters will receive, on the closing of the Offering and the closing of the Over-Allotment Option (if any), cash commission equal to 6.0% of gross proceeds of the Offering (including on any exerci...