VLNS - Valens announces C$28.1M bought deal offering of units

Valens (NASDAQ:VLNS) said a syndicate of underwriters will purchase, on a "bought deal" basis, 10.6M units of the company at C$2.65/unit for total gross proceeds of C$28.1M. Each unit will be comprised of 1 share and 1/2 of a share purchase warrant. Each warrant will be exercisable to acquire 1 additional share for a period of 48 months following the closing of the offering at an exercise price of C$3.20 per warrant share. VLNS granted the underwriters an option to purchase up to such number of additional units as is equal to 15% of the units sold pursuant to the offering at the issue price to cover over-allotments, if any. The option will be exercisable in whole or in part, at any time, for 30 days after the closing of the offering for any number of units, shares, warrants, or any combination thereof at a price equal to the issue

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Valens announces C$28.1M bought deal offering of units