VNWTF - Vecima Networks upsizes via private placement
-
Vecima Networks ( OTCPK:VNWTF ) has entered into an agreement with Raymond James and Cormark Securities as lead managers and joint book-runners, together with a syndicate of agents to offer for sale an additional 394,500 shares at a price of $17.75 for aggregate gross proceeds of ~$7M.
-
If the lead agents exercise the agents’ option under the LIFE Offering in its entirety and 394,500 shares are sold in the private placement, the total gross proceeds from the offering will be ~$17M.
-
Company intends to use the net proceeds of the Offering for the repayment of the line of credit.
-
Private placement is expected to close concurrently with the LIFE offering on or about December 14, 2022.
For further details see:
Vecima Networks upsizes via private placement