- RESAAS Services Inc. (RSS) announces a non-brokered private placement of up to US$3.5 million in convertible debenture units
- RESAAS develops a web and mobile communication technology platform for the real estate industry
- Each convertible debenture unit will convert into the company’s common stock at the whichever of two options offered ends up being higher
- It intends to use the net proceeds of the offering for growth capital, along with general corporate purposes
- RESAAS Services Inc. (RSS) is down 2.94 per cent and is trading at $0.66 per share as of 1:29 p.m. EST
RESAAS Services (RSS) has announced a non-brokered private placement of up to US$3.5 million in convertible debenture units.
RESAAS develops a web and mobile communication technology platform for the real estate industry.
Each convertible debenture unit will convert into the company’s common stock at whichever of two options ends up being higher.
The initial option is a 50 per cent premium to the closing price on the date of execution of the offering.
Secondly, a 35 per cent discount to the closing price on the date of uplist to a senior American stock exchange, is being proposed.
RESAAS intends to use the net proceeds of the offering for growth capital, along with general corporate purposes as it prepares to uplist itself.
In relation to the offering, RESAAS has appointed Spartan Capital Securities, an integrated financial services firm, as financial advisor.
RESAAS Services Inc. (RSS) is down 2.94 per cent and is trading at $0.66 per share as of 1:29 p.m. EST.