Source: Zentek Ltd.
  • Zentek (ZEN) has announced a bought deal public offering for proceeds of $20.0 million
  • The company will issue 419,000 common shares priced at $5.85 per share
  • Zentek has also announced a concurrent non-brokered private placement for gross proceeds of approximately $12.5 million
  • The offerings are expected to close on or about December 8, 2021
  • Zentek is an IP development and commercialization company focused on next-gen healthcare solutions
  • Zentek Ltd. (ZEN) opened trading at C$7.05 per share

Zentek (ZEN) has announced a bought deal public offering for proceeds of $20.0 million.

The company will issue 419,000 common shares priced at $5.85 per share.

The company has granted the underwriters the option to purchase up to an additional 15 per cent of the shares exercisable at any time up to 30 days following the closing of the offering.

Zentek has also announced a concurrent non-brokered private placement of 2,137,000 shares at $5.85 per share for aggregate gross proceeds of approximately $12.5 million.

The net proceeds from the offerings will be used for capital expenses, research and development, acceleration of business growth opportunities and working capital.

The offerings are expected to close on or about December 8, 2021, and are subject to regulatory approval.

Zentek is an IP development and commercialization company focused on next-gen healthcare solutions in the areas of prevention, detection and treatment. 

Zentek Ltd. (ZEN) opened trading at C$7.05 per share.

More From The Market Online

Nine Mile Metals completes acquisition of 3 properties

Nine Mile Metals (CSE:NINE) completes the exercise and acquisition of its 100 per cent interest in three properties in New Brunswick.

Canopy Growth fuels turnaround story with fresh capital

Canopy Growth (TSX:WEED) continues its turnaround story with a C$96.3 million exchange and subscription deal with an institutional investor.

Junior gold CEO signals conviction with new investment

Cynthia Le Sueur-Aquin, CEO of junior gold stock Laurion Mineral Exploration (TSXV:LME), will exercise 750,000 stock options for C$142,500.

Three stocks with multi-bagger potential

The best investors stick to stocks with the most easily discernible reasons in support of their multi-bagger potential.