LPSIF - Legend Power Systems increases bought deal offering size of up to $10.3M

Legend Power Systems ([[LPSIF]] -6.9%) entered into an agreement with Stifel, as sole bookrunner and lead underwriter on behalf of a syndicate of underwriters, for increasing the size of its earlier announced bought deal offering.Underwriters have agreed to purchase, on a bought deal basis, 12M units at $0.75/unit for gross proceeds of $9M.Each unit will consist of one share and one-half of one share purchase warrant wherein warrant holder will be entitled to purchase one share at $0.95 for two years post closing date.Underwriters granted 30 days option to purchase up to an additional 1.8M units wherein the gross proceeds will be $10.35M.Net proceeds will be used for future growth initiatives and general corporate purposes.Offer scheduled to close on or about June 11.

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Legend Power Systems increases bought deal offering size of up to $10.3M