- CHAR Technologies (YES) has upsized its private placement to $4.89 million
- The company will issue a total of up to 10,877,514 units
- The offering is expected to close in mid-March 2022
- CHAR is a cleantech development and services company that specializes in high-temperature pyrolysis
- Char Technologies Ltd. (YES) is down 3.64 per cent on the day, trading at C$0.53 per share at 3:15 pm EST
CHAR Technologies (YES) has upsized its previously announced private placement to $4.89 million.
The company will issue up to 644,181 additional units. The offering will now total up to 10,877,514 units for gross proceeds of up to $4,894,881. Each unit will consist of one common share and one-half share purchase warrant. Each whole warrant will entitle the holder to acquire one additional share at $0.60 for eighteen months after the closing of the offering.
Net proceeds will be used for general working capital needs.
The offering is expected to close in mid-March 2022.
The securities issued will be subject to a four-month statutory hold period.
CHAR is a cleantech development and services company that specializes in high-temperature pyrolysis, converting woody materials and organic waste into renewable gases and biocarbon.
Char Technologies Ltd. (YES) is down 3.64 per cent on the day, trading at C$0.53 per share at 3:15 pm EST.