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TeraGo Files Preliminary Short Form Prospectus in Connection With Bought Deal Offering
TeraGo Files Preliminary Short Form Prospectus in Connection With Bought Deal Offering ...
About this update from Terago Inc.
[{"type":"text","content":"\n\n\n\nTeraGo Files Preliminary Short Form Prospectus in Connection With Bought Deal Offering\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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 17, 2019\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n TORONTO, June 17, 2019 /CNW/ - TeraGo Inc. (\"TeraGo\" or the \"Company\") (TSX: TGO, www.terago.ca), announces that further to its previously announced bought deal offering (the \"Offering\") on June 11, 2019, it has entered into an underwriting agreement with a syndicate of underwriters led by TD Securities Inc., and including Canaccord Genuity Corp., Cormark Securities Inc. and Desjardins Securities Inc. (collectively, the \"Underwriters\") who have agreed to buy on a bought deal basis 700,000 common shares of TeraGo (\"Common Shares\") at a price of $11.00 per Common Share (the \"Offering Price\") for gross proceeds of $7,700,000. In connection with the Offering, the Company has also filed today a preliminary short form prospectus (the \"Preliminary Prospectus\"). \nIn addition, the Company has also granted the Underwriters an over-allotment option (the \"Over-Allotment Option\") to purchase up to an additional 105,000 Common Shares, exercisable at any time up to 30 days after the closing of the Offering at a price equal to the Offering Price. In the event the Over-Allotment Option is exercised in full, the gross proceeds to TeraGo will be $8,855,000.\nThe Offering is anticipated to close on or about July 3, 2019 and is subject to certain customary conditions and regulatory approvals, including the approval of the Toronto Stock Exchange and the securities regulatory authorities.\nThe Company intends to use the net proceeds of the Offering to fund technical and customer trials related to 5G technology in support of launching 5G fixed wireless services in Canada and for general corporate purposes, as further disclosed in the Preliminary Prospectus.\nThis news release does not constitute an of...