- Versus Systems ( NASDAQ: VS ) is down 5.0% after-hours after the firm has entered in a registered direct offering with an institutional investor for the purchase and sale of 4,145,000 of the company's common shares at a purchase price of $0.52/common share for an expected gross proceeds of ~$2.16M.
- Offering is expected to occur on or about July 18, 2022.
- In addition, in a concurrent private placement, the company will issue to the investor warrants to purchase up to 6,217,500 common shares.
- The warrants have an exercise price of $0.52/common share, will be exercisable six months following issuance and will have a term of five and one-half years following issuance.
- Net proceeds from the offering will be used for working capital and general corporate purposes.
For further details see:
Versus Systems slides after proposes to raise $2.16M capital via registered direct offering