- Tokens.com Corp. (COIN) increases its private placement, led by Stifel GMP, where it will offer $0.90 per unit for aggregate proceeds of $12 million
- Stifel GMP worked on behalf of a syndicate of agents including PowerOne Capital Markets Ltd, Richardson Wealth Limited Eventus Capital Corp., M Partners Inc. and Canaccord Genuity Corp.
- Each unit consists of one common share and one-half of one common share purchase warrant
- Agents have the option to increase the size of the offering by up to an additional $4 million
- The net proceeds will be used for cryptocurrency investments, staking, investments in Tokens.com’s subsidiary, Metaverse Group Ltd., and for working capital and general corporate purposes
- Tokens.com Corp. (COIN) is down 4.27 per cent and is trading at $1.57 per share at 12:30 p.m. ET
Tokens.com Corp. (COIN) has increased its private placement for proceeds of $12 million.
Stifel GMP worked on behalf of a syndicate of agents including PowerOne Capital Markets Ltd, Richardson Wealth Limited Eventus Capital Corp., M Partners Inc. and Canaccord Genuity Corp.
Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant.
Each warrant entitles the holder to acquire one common share at a price of $1.15 per warrant share.
All securities issued in connection with the offering will be subject to a four-month and one day hold period.
Tokens.com will grant the agents an over-allotment option to increase the size of the offering by up to an additional $4 million, exercisable in whole or in part, up to 48 hours before the closing.
If the full amount of the agents’ option is exercised, the aggregate gross proceeds of the offering will be approximately $16 million.
The net proceeds from the offering are expected to be used for making investments in cryptocurrencies to be used for staking, investments in Tokens.com’s 50 per cent subsidiary, Metaverse Group Ltd., and for working capital and general corporate purposes.
The offering is scheduled to close by about November 16.
Tokens.com Corp. (COIN) is down 4.27 per cent and is trading at $1.57 per share at 12:30 p.m. ET.