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Zedcor Inc. Announces Closing of $25M Bought Deal Public Offering Including Exercise in Full of Over-Allotment Option
Calgary, Alberta--(Newsfile Corp. - February 5, 2025) - Zedcor Inc. (TSXV: ZDC) (the "Company" or...
About this update from Zedcor Inc
[{"type":"text","content":"Zedcor Inc. Announces Closing of $25M Bought Deal Public Offering Including Exercise in Full of Over-Allotment OptionCalgary, Alberta--(Newsfile Corp. - February 5, 2025) - Zedcor Inc. (TSXV: ZDC) (the \"Company\" or \"Zedcor\") is pleased to announce the closing of its previously announced upsized bought deal public offering of common shares of the Company (the \"Offering\"). The Company entered into an agreement with Beacon Securities Limited (\"Beacon\"), on behalf of a syndicate of underwriters including Cormark Securities Inc., Raymond James Ltd., Canaccord Genuity Corp., and Paradigm Capital Inc. (together with Beacon, the \"Underwriters\"), whereby the Underwriters purchased, on a bought deal basis, a total of 7,555,500 common shares (the \"Offered Shares\") of the Company at a price of $3.35 per Offered Share (the \"Issue Price\") for aggregate gross proceeds to the Company of $25,310,925 including proceeds raised from the over-allotment option, exercised in full. The Offered Shares were offered in all provinces of Canada, except Quebec, pursuant to a short form prospectus dated January 29, 2025 and in the United States to Qualified Institutional Buyers (as defined in Rule 144A under the United States Securities Act of 1933, as amended (the \"1933 Act\")) and to a limited number of \"accredited investors\" (as defined in Rule 501(a) of Regulation D under the 1933 Act), in each case by way of private placement pursuant to an exemption from the registration requirements of the 1933 Act and pursuant to any applicable securities laws of any state of the United States.The Company intends to use the net proceeds of the Offering for the accelerated expansion of its service platform across the United States and Canada, increased sales and marketing efforts, growth of its fleet of MobileyeZTM security towers to meet strong demand from its U.S. operations, other capital expenditures, working capital and general corporate purposes. In consideration for the services rendered by the Underwriters in connection with the Offering, the Company paid the Underwriters a cash fee equal to 5.0% of the gross proceeds.The securities have not been and will not be registered under the 1933 Act, as amended, or any U.S. state securities laws, and may not be offered or sold in the \"United States\" (as such term is defined in Regulation S under the ...