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The Very Good Food Company Announces Upsize of Previously Announced Bought Deal Offering
The Very Good Food Company Announces Upsize of Previously Announced Bought Deal Offering.
About this update from The Very Good Food Co Inc
[{"type":"text","content":"\n\n\n\nThe Very Good Food Company Announces Upsize of Previously Announced 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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nThe Very Good Food Company Announces Upsize of Previously Announced Bought Deal Offering\nCanada NewsWire\nVANCOUVER, BC, June 16, 2021\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/\n VANCOUVER, BC, June 16, 2021 /CNW/ - The Very Good Food Company Inc. (TSXV: VERY.V) (OTCQB: VRYYF) (FSE: 0SI) (\"VERY GOOD\" or the \"Company\"), a leading plant-based food technology company, is pleased to announce that it has amended its agreement with Canaccord Genuity Corp. (the \"Underwriter\" or \"Canaccord\"), to increase the size of the previously announced bought deal offering from $15,003,500 to $20,700,575 (including exercise of the over-allotment option). Pursuant to the revised offering terms, Canaccord, lead underwriter and sole bookrunner, has agreed to purchase, on a bought deal basis, an aggregate of 4,865,000 units of the Company (the \"Units\") at a price of $3.70 per Unit (the \"Issue Price\") for aggregate gross proceeds to the Company of $18,000,500 (the \"Offering\").\nEach Unit will consist of one common share of the Company (a \"Common Share\") and one-half of one common share purchase warrant of the Company (each whole warrant, a \"Warrant\"). Each Warrant will be exercisable to acquire one Common Share (each, a \"Warrant Share\") for a period of 18 months following the closing of the Offering at an exercise price of $4.60 per Warrant Share, subject to adjustment in certain events.\nThe Company has agreed to grant the Underwriter an over-allotment option to purchase up to an additional 729,750 Units at the Issue Price, exercisable in whole or in part, at any time and from time to time on or prior to the date that is 30 days following the closing of the Offering to cover over-allotments, if any, and for market stabilization purposes. If the over-allotment option is exercised in full, an additional $2,700,075 in gross proceeds will be raised...