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Vitalhub Corp. Announces $17.5 Million Bought Deal Public Offering
Vitalhub Corp. Announces $17.5 Million Bought Deal Public Offering Canada NewsW...
About this update from Vitalhub Corp.
[{"type":"text","content":"\n \n \n \n Vitalhub Corp. Announces $17.5 Million Bought Deal 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 /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 31, 2022\n \n \n /CNW/ - Vitalhub Corp. (the \"\n \n Company\n \n \" or \"\n \n Vitalhub\n \n \") (TSX: VHI) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. and Eight Capital acting as co-lead underwriters, on behalf of a syndicate of underwriters (collectively, the \"\n \n Underwriters\n \n \") pursuant to which the Underwriters have agreed to purchase 5,645,200 Common Shares (the \"\n \n Common Shares\n \n \") from the treasury of the Company, at a price of\n \n $3.10\n \n per Common Share for total gross proceeds of approximately\n \n $17.5 million\n \n (the \"\n \n Offering\n \n \").\n \n \n In addition, the Company has granted the Underwriters an option (the \"\n \n Over-Allotment Option\n \n \") to purchase up to an additional 15% of the Common Shares of the Offering on the same terms exercisable at any time up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any.\n \n \n The net proceeds of the Offering shall be used for growth inititiaves, working capital and general corporate purposes.\n \n \n Closing of the Offering is expected to occur on or about\n \n April 21, 2022\n \n and is subject to regulatory approval including that of the Toronto Stock Exchange (the \"\n \n TSX\n \n \").\n \n \n The Common Shares to be issued under the Offering will be offered by way of a short form prospectus to be filed in each of the Provinces of\n \n Canada\n \n , except\n \n Quebec\n \n , and may be offered in\n \n the United States\n \n on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicabl...