- Clip Money (CLIP) announced a non-brokered private placement for gross proceeds of up to C$1,000,000
- The company will issue up to 1,538,462 units for $0.65 per unit
- Net proceeds will be used primarily for network expansion and customer acquisition
- The offering is scheduled to close on or about the week of March 20th, 2023
- Clip Money (CLIP) is a Fintech company providing secure cash deposits to small businesses
- Clip Money Inc. (CLIP) opened trading at $0.64
Clip Money (CLIP) announced a non-brokered private placement for gross proceeds of up to C$1,000,000.
Under the offering, the company will issue up to 1,538,462 units priced at $0.65 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.85 for a period of 36 months.
Warrants will be subject to an acceleration clause.
Finder’s fees consisting of cash and warrants may be paid in conjunction with this offering.
All securities issued to Canadian investors will be subject to a statutory four-month hold period.
Net proceeds will be used primarily for network expansion and customer acquisition.
The offering is scheduled to close on or about the week of March 20th, 2023.
Joe Arrage, CEO & Co-Founder of Clip Money, commented on the offering.
“We are pleased to announce another capital raise, driven by investor demand, on the heels of a successful close of our previously announced financing. Momentum, confidence and demand in our business and market offerings continue to grow, particularly in the large enterprise multi-store retail segment. The proceeds from this raise will enable Clip Money to accelerate the execution of these significant customer opportunities. The demand is driven by our unparalleled value proposition over legacy deposit options and the inefficiencies and ongoing reliability challenges associated with the legacy cash management ecosystem.”
About Clip Money Inc.
Clip Money (CLIP) is a Fintech company providing secure cash deposits to small businesses.
Clip Money Inc. (CLIP) opened trading at $0.64.