- AMPD Ventures (AMPD) has increased the size of its private placement for gross proceeds of C$5M
- The company now plans to issue up to 16,666,667 units at a price of $0.30 per unit
- AMPD intends to use $2.5M of the proceeds from the private placement to fund the ongoing operations of Departure Lounge
- AMPD specializes in providing high-performance cloud and compute solutions for low-latency applications
- AMPD Ventures Inc. (AMPD) is up 10.53 per cent, trading at C$0.42 per share at 1:45 pm ET
AMPD Ventures (AMPD) has increased the size of its private placement for gross proceeds of C$5M.
The company now plans to issue up to 16,666,667 units at a price of $0.30 per unit.
Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one share at a price of $0.50 for a period of 24 months following the closing of the private placement.
The expiry date of the warrants may be accelerated at the option of the company if the volume-weighted average trading price of the underlying shares on the CSE is or exceeds $0.80 for a period of ten consecutive trading days.
The placement is subject to regulatory approval and all securities issued will be subject to a four-month hold period.
AMPD intends to use $2.5M of the proceeds from the private placement to fund the ongoing operations of Departure Lounge post-acquisition. The remaining $2.5M will be used for general working capital.
AMPD specializes in providing high-performance and computing solutions for low-latency applications, including video games and eSports, digital animation and visual effects, and big data collection, analysis and visualization.
AMPD Ventures Inc. (AMPD) is up 10.53 per cent, trading at C$0.42 per share at 1:45 pm ET.
