- FansUnite Entertainment (FANS) has upsized its non-brokered private placement to up to $3 million due to strong investor demand
- With that, the company will now issue up to 37,500,000 units of the company at a price of $0.08 per unit
- The offering is led by Tekkorp Capital, an investment firm, which has agreed to acquire 13,750,000 units of the offering
- The company intends that the net proceeds from the offering will be used for general corporate working capital purposes
- FansUnite Entertainment Inc. is a global sports and entertainment company focusing on technology related to regulated and lawful online gaming
- FansUnite Entertainment Inc. (FANS) opened trading at $0.075 per share
FansUnite Entertainment (FANS) has upsized its previously announced non-brokered private placement to up to $3 million.
The increase in the size of the offering was necessitated by strong investor demand.
With that, the company will now issue up to 37,500,000 units of the company at a price of $0.08 per unit.
The offering is led by Tekkorp Capital, an investment firm that advises and invests in innovative public and private companies within the global digital gaming industry, which has agreed to acquire 13,750,000 units of the offering.
“We are pleased to receive significant support from the investment community, which led us to upsize our offering due to the strong investor demand,” noted Scott Burton, CEO of FansUnite.
Each unit will consist of one common share in the capital of the company and one common share purchase warrant of the company. Each warrant will entitle the holder to purchase one common share at a price of $0.12 per warrant share for a period of 36 months after the closing date of the offering.
The company intends that the net proceeds from the offering will be used for general corporate working capital purposes.
Closing of the offering is subject to receipt of all regulatory approvals, including the approval of the Toronto Stock Exchange, and will occur within 45 days from the date of the Offering Document (as defined below).
The company may increase the size of the offering to the maximum amount permitted by the Listed Issuer Financing Exemption in the context of the market.
FansUnite Entertainment Inc. is a global sports and entertainment company focusing on technology related to regulated and lawful online gaming.
FansUnite Entertainment Inc. (FANS) opened trading at $0.075 per share.