- St. Davids Capital (SDCI.P) has completed its initial public offering raising gross proceeds of $217,850
- The offering saw a total of 2,178,500 common shares of the company being subscribed for at a price of $0.10 per share
- Following the completion of the IPO, St. Davids Capital now has 5,078,500 shares issued and outstanding
- St. Davids Capital Corp. is a capital company which has not commenced commercial operations and has no assets other than cash
- St. Davids Capital Inc. was unchanged at $0.10 at 2:12 PM ET
St Davids Capital has successfully completed its initial public offering raising gross proceeds of $217,850.
The offering saw a total of 2,178,500 common shares of the company being subscribed for at a price of $0.10 per share.
Following the completion of the IPO, St. Davids Capital now has 5,078,500 shares issued and outstanding.
All shares issued prior to the IPO, including the 2,900,000 shares held by directors and officers of the company, are subject to escrow restrictions in accordance with the policies of the TSX Venture Exchange.
Research Capital Corporation of Vancouver, British Columbia, acted as the agent for the IPO.
The company also granted incentive stock options to its directors and officers to purchase up to 411,533 shares, which are exercisable at a price of $0.10 per share until the date that is five years from the date the shares begin trading on the TSXV, which are subject to escrow restrictions pursuant to the policies of the TSXV.
The shares were listed on the TSXV at the market close on October 13, 2022, and immediately halt-traded pending the closing of the IPO.
The halt is expected to be lifted, and trading of the shares is expected to commence on or about October 14, 2022, under the symbol “SDCI.P.”
The net proceeds of the IPO, together with the proceeds from prior sales of shares as disclosed in the prospectus, will be used by the company to identify and evaluate assets or businesses for acquisition with a view to completing a “qualifying transaction.”
The current directors of the company are Rocco Racioppo, Philip Hampson, William Kennedy, Douglas Harris and Anthony Viele.
St. Davids Capital Corp. is a capital company which has not commenced commercial operations and has no assets other than cash.
St. Davids Capital Inc. was unchanged at $0.10 at 2:12 PM ET.