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Message: TSXV's dynaCERT in $7.3 Million Oversubscribed Overnight Marketed Equity Financing
2020-06-03 02:20:39 PM ET (MT Newswires)
   
   

02:20 PM EDT, 06/03/2020 (MT Newswires) -- In connection with its previously announced overnight marketed offering, dynaCERT Inc. (DYA.V) has entered into an underwriting agreement with a syndicate of underwriters to sell 10.7 million units at $0.68 apiece for aggregate gross proceeds of approximately $7.3 million. The underwriters have been grated an over-allotment option of up to an additional 15%.

Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire an additional common share at $1.00 each for 24 months following the offering's close.

The offering is expected to close about June 18.

Net proceeds will be used to finance raw materials and manufacturing and assembly costs in order to create and deliver finished goods inventory for the KarbonKleen Inc. subscription program, as well as for working capital and general corporate purposes.

Price: 0.73, Change: -0.08, Percent Change: -9.88

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