- Immutable Holdings (HOLD) has announced an agreement with Stifel GMP to increase its offering from $10 million to up to $14 million
- The agents’ over-allotment option has been increased to 1,153,846 units providing the company with gross proceeds of up to $17 million
- Each unit will consist of one class A subordinate voting share and one-half of one common share purchase warrant
- The warrants are subject to an acceleration clause
- The offering is scheduled to close the week of December 13th
- Immutable Holdings is a full-service blockchain holding company
- Immutable Holdings Inc. (HOLD) is down 4.90 per cent on the day, trading at C$2.33 per share at 3:20 pm EST
Immutable Holdings (HOLD) has announced an agreement with lead agent Stifel GMP to increase its offering from $10 million to up to $14 million.
Immutable Holdings has also agreed to increase the size of the agents’ over-allotment option to 1,153,846 units, which if exercised in full, would provide the company with aggregate gross proceeds of approximately $17 million.
Each unit will consist of one class A subordinate voting share and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at a price of $4.00 for 36 months following the closing of the offering.
In the event that the volume-weighted trading price of the shares on the NEO Exchange is equal to or greater than $8.00 for a period of 20 consecutive trading days at any time beyond four months and a day after the closing date, the company may accelerate the expiry date of the warrants. In such a case, the warrants will expire at 4:00 pm EST 60 days after the notification date.
The agents’ over-allotment option is exercisable in whole or in part, at any time up to 48 hours prior to the closing of the offering.
A portion of the units issued under the offering will be sold by the company on a non-brokered basis.
The net proceeds of the offering will be used for working capital and general corporate purposes.
The offering is scheduled to close the week of December 13th, 2021.
Immutable Holdings, the Blockchain Holding company, is on a mission to democratize access to Web3 and blockchain-based products and services.
Immutable Holdings Inc. (HOLD) is down 4.90 per cent on the day, trading at C$2.33 per share at 3:20 pm EST.