- Deveron (FARM) has upsized its overnight marketed public offering for up to C$10M
- The company intends to use the proceeds to support organic growth and product development, as well as the pursuit of acquisition opportunities
- The offering is slated to close on or about February 25, 2022
- Deveron is an agriculture technology company that uses data to help farmers and large agriculture enterprises increase yields, reduce costs and improve outcomes
Deveron (FARM) has upsized its previously announced overnight marketed public offering from $8 million to approximately $10 million.
Each unit is comprised of one common share and one-half of one common share purchase warrant.
Raymond James, serving as sole agent and bookrunner, will determine the price per unit and the warrants’ exercise price based on market conditions.
The over-allotment option equals 15 per cent of the aggregate number of units purchased and may be exercised up to 30 days after closing.
The company intends to use the proceeds to support organic growth and product development, as well as the pursuit of acquisition opportunities.
The offering is slated to close on or about February 25, 2022.
Deveron is an agriculture technology company that uses data to help farmers and large agriculture enterprises increase yields, reduce costs and improve outcomes.
Deveron Corp. (FARM) is down 11.7 per cent on the day, trading at C$0.68 per share at 1:30 pm EST.
