Source: The Lion Electric Company.
  • The Lion Electric Company (LEV) has launched a marketed public offering of units in the United States and Canada
  • The company will issue 19,685,040 Units at a price of US$2.54 per Unit for gross proceeds of approximately US$50 million
  • The company plans to use the net proceeds of the offering to strengthen its financial position
  • Power Sustainable Capital Inc. has indicated an interest in purchasing units at the offering price, representing an aggregate purchase price of approximately US$25 million
  • Lion Electric is a manufacturer of zero-emission vehicles
  • The Lion Electric Company  opened trading at $3.64

The Lion Electric Company (LEV) has launched a marketed public offering of units in the United States and Canada.

The company will issue 19,685,040 Units at a price of US$2.54 per Unit for aggregate gross proceeds of approximately US$50 million.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of US$2.80 for a period of five years following the closing of the offering.

B. Riley Securities, Inc. and National Bank Financial Inc. are acting as joint bookrunners for the offering. The offering is expected to close on or about December 16, 2022.

The Lion Electric Company has granted the Underwriters an over-allotment option, exercisable for a period of 30 days from the date of the closing of the offering, to purchase up to 2,952,755 additional units at a price of US$2.54 per unit.

Power Sustainable Capital Inc. has indicated an interest in purchasing units at the offering price, representing an aggregate purchase price of approximately US$25 million

The company plans to use the net proceeds of the offering to strengthen its financial position and allow it to continue to pursue its growth strategy, including its capacity expansion projects in Joliet, Illinois and Mirabel, Québec.

Lion Electric is a manufacturer of zero-emission vehicles.

The Lion Electric Company opened trading at $3.64.


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