- Crossover Acquisitions (CRSS.P) has completed its initial public offering for gross proceeds of $1,250,000
- The corporation issued 12,500,000 shares priced at C$0.10 per share
- The corporation is a Capital Pool Company as defined in the policies of the TSX Venture Exchange Inc.
- iA Private Wealth Inc. acted as agent in connection with the offering
- The common shares began trading on the Exchange under the trading symbol CRSS.P
- Crossover Acquisitions Inc. (CRSS.P) is up 13.33 per cent, trading at C$0.17 per share at 1:25 pm ET
Crossover Acquisitions (CRSS.P) has completed its IPO for gross proceeds of $1,250,000. The corporation issued 12,500,000 shares priced at C$0.10 per share.
The corporation is a Capital Pool Company as defined in the policies of the TSX Venture Exchange Inc. To date, the corporation has not conducted operations of any kind. The only business of Crossover will be the identification and evaluation of assets or businesses with a view to completing a “Qualifying Transaction” in accordance with the policies of the Exchange.
iA Private Wealth Inc. acted as the agent in connection with the offering. For its services, iA Private Wealth received an administrative fee, a cash commission equal to 10 per cent of the gross proceeds of the offering as well as options to purchase up to 1,250,000 common shares at an exercise price of $0.10 per share.
Upon the closing of the offering, there are 16,500,000 common shares issued and outstanding, of which 4,000,000 are being held in escrow.
In addition, the directors and officers of the corporation were granted options to purchase an aggregate of up to 1,650,000 shares at an exercise price of $0.05 per share for a period of five years from the date of grant.
The common shares began trading on the Exchange under the trading symbol CRSS.P.
Crossover Acquisitions Inc. (CRSS.P) is up 13.33 per cent, trading at C$0.17 per share at 1:25 pm ET.