- BlueRush (BTV) has announced the receipt of irrevocable subscription agreements for a total of US$2,898,995.15 of convertible debenture units for its non-brokered private placement
- The offering consists of up to 5,000 convertible debenture units at a price of US$1,000 (C$1,000) per convertible debenture unit, for aggregate gross proceeds of up to US$5,000,000 (C$6,289,500)
- Upon the end of the offering, BlueRush hopes to call a special shareholders’ meeting to seek shareholder approval for the consolidation of its common shares
- The company hopes to use the net proceeds from the offering for general working capital
- BlueRush Inc offers software as a service-based content engagement platform
- Bluerush Inc. was unchanged at C$0.045 as at 1:58 PM ET
BlueRush (BTV) has received subscription agreements of US$2,898,995.15 of convertible debenture units for its non-brokered private placement.
The offering consists of up to 5,000 convertible debenture units at a price of US$1,000 (C$1,000) per convertible debenture unit, for aggregate gross proceeds of up to US$5,000,000 (C$6,289,500).
Each convertible debenture unit comprises US$1,000 (C$1,000) principal amount of a 10.0 per cent unsecured convertible debenture and 12,500 (10,000 per convertible debenture unit purchased for C$1,000 per convertible debenture unit) common share purchase warrants of the company.
Each warrant entitles the holder to acquire one additional common share at a price of US$0.075 (C$0.094) per share until the date that is 48 months from the closing of the offering.
Each convertible debenture shall mature on the date, which is 48 months from the closing of the offering and will be convertible into common shares of the company at a conversion price of US$0.04 (C$0.05) per common share.
Consequently, when the offering comes to an end, the company hopes to call a special shareholders’ meeting to seek shareholder approval for the consolidation of its common shares.
The company hopes to use the net proceeds from the offering for general working capital.
BlueRush develops and markets IndiVideo, a disruptive, award-winning interactive, personalized video platform that drives return on investment throughout the customer lifecycle, from increased conversions to more engaging statements and customer care.
BlueRush Inc. was unchanged at C$0.045 as at 1:58 PM ET.