- Mayfair Acquisition Corporation (MFA.P) has announced the closing of its initial public offering for gross proceeds of $400,000
- The company issued 4,000,000 common shares at a price of $0.10 per share
- Mayfair now has 8,136,668 common shares issued and outstanding
- The common shares were admitted for trading on the TSX-V under the ticker symbol MFA.P at the opening of the market on April 5, 2022
- The share price of Mayfair Acquisition Corporation stood at $0.10 at 12:53 PM ET
Mayfair Acquisition Corporation (MFA.P) has closed its initial public offering for gross proceeds of $400,000.
The company issued 4,000,000 common shares at a price of $0.10 per share.
Haywood Securities Inc. acted as an agent for the offering.
Mayfair granted stock options to directors and an officer of Mayfair to acquire up to an aggregate of 813,664 common shares. Each stock option is exercisable to acquire one common share at a price of $0.10 any time before April 5, 2032.
Following the completion of the offering, Mayfair has 8,136,668 common shares issued and outstanding. 4,136,668 of the shares are subject to escrow restrictions as described in Mayfair’s final prospectus dated January 21, 2022.
In accordance with Policy 2.4 of the TSX Venture Exchange, the common shares were admitted for trading on the TSX-V under the ticker symbol MFA.P at the opening of the market on April 5, 2022.
Mayfair also announced the cancellation of 413,666 previously issued stock options to directors and an officer of the company as previously announced in a press release dated February 15, 2022.
Mayfair is a capital pool company.
The share price of Mayfair Acquisition Corporation stood at $0.10 at 12:53 PM ET.