- ApartmentLove (APLV) has closed the final tranche of its previously-announced private placement
- The company raised additional gross proceeds of $415,000 in the final tranche, bringing the total gross proceeds of the offering to $3,311,000
- Also, the company acquired GottaRent.com on December 15, 2022, which was the company’s second successful acquisition in less than 6 months
- ApartmentLove Inc. is a leading provider of online home, apartment, and vacation rental marketing services
- ApartmentLove Inc. opened trading at $0.115
ApartmentLove (APLV) has closed the final tranche of its previously-announced private placement.
The private placement with Canaccord Genuity Corp. consisted of 10 per cent unsecured debenture units.
The company raised additional gross proceeds of $415,000 in the final tranche, bringing the total gross proceeds of the offering to $3,311,000.
The option granted to the agent to sell up to 2,000 additional debenture units was partially exercised to provide for the sale of 311 debenture units in addition to the base offering of 3,000 debenture units.
The company had earlier raised $2,896,000 in the first tranche of the offering, which closed on December 13, 2022, ahead of the company’s acquisition of GottaRent.com on December 15, 2022, the company’s second successful acquisition in less than 6 months.
“For us to have now raised in excess of $3.3 million over the Christmas season and in this capital environment is truly remarkable and a testament to the work of our team and our capital partners,” stated Trevor Davidson, President & CEO of ApartmentLove.
“We are now well capitalized and able to fund our many organic growth strategies while furthering the many other prospective targets we are currently considering,” he added.
Each debenture unit consists of one $1,000 principal amount unsecured convertible debenture and 5,000 common share purchase warrants.
The outstanding principal amount of each convertible debenture is convertible at the option of the holder into common shares of the company at a price of $0.20 per common share.
Each warrant is exercisable to acquire one common share at an exercise price of $0.30 per common share until December 13, 2024.
ApartmentLove Inc. is a leading provider of online home, apartment, and vacation rental marketing services to property managers, owners, renters, and vacationers in more than 30 countries around the world.
ApartmentLove Inc. opened trading at $0.115.
