VSSYW - Versus Systems Announces Strategic Investment from Cronus Equity Capital Group LLC | Benzinga
LOS ANGELES, Nov. 24, 2023 (GLOBE NEWSWIRE) -- Versus Systems Inc. ("Versus" or the "Company") (NASDAQ:VS) announced today that the Company recently secured a strategic investment (the "Investment") from Cronus Equity Capital Group, LLC ("CECG").
The Investment contemplates the issuance of up to 24,727,361 common shares of Versus to CECG representing approximately 51% of the Company's issued and outstanding common shares of which 15,838,441 common shares (the "First Tranche) were issued to CECG on November 22, 2023 and a further 8,888,920 common shares (the "Second Tranche") are expected to be issued to CECG next week.
Per the terms of the agreement, CECG purchased the First Tranche at a price of $0.1618 per share, representing a premium to the five-day average Nasdaq Official Closing Price of $0.1578 per share, for a total USD $2,562,659.76. The Second Tranche will be completed at the same price per share.
There were no warrants in the transaction.
About Versus Systems
Versus Systems Inc. is an engagement and rewards company that makes live events, games, shows, and apps more fun to watch and play. Versus adds interactive games, polling, trivia, predictive elements, and other win conditions to existing entertainment - whether in-venue or online - making the content more contextual, personal, and rewarding. Versus works with world class sports teams, leagues, venues, entertainment companies, ...