EMERGE Commerce Ltd. Announces Pricing of Previously Announced Private Placement Offering of Special Warrants
TORONTO, Feb. 18, 2021 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE" or the "Company"), is pleased to announce the pricing of its previously announced private placement offering (the "Offering") of special warrants of the Company (the "Special Warrants") at a price of $1.40 per Special Warrant for total gross proceeds of up to $10,000,000 (or such greater amount as agreed to by the Company and the Bookrunners).
Canaccord Genuity Corp. and Gravitas Securities Inc. shall act as co-bookrunners and co-lead agents for the Offering, together with Raymond James Ltd., as co-lead agent and Stifel Nicolaus Canada Inc. (together, the "Agents").
The Offering is expected to close on or about the week of March 8, 2021, or such other date as the Company and the Agents may agree (the "Closing Date"). Closing of the Offering will be subject to customary closing conditions, including the receipt of all necessary regulatory approvals.
In addition, the Company has granted the Agents an option exercisable in whole or in part, at any time up until 48 hours prior to the Closing Date, to increase the size of the Offering by up to 15% of the number of the number of Special Warrants sold pursuant to the Offering, on the same terms and conditions as the Offering.
The Company intends to use the net proceeds of the Offering for potential acquisitions, working capital and general corporate purposes.
EMERGE is a disciplined, diversifid, rapidly growing acquirer and operator of niche e-commerce brands across North America. Our network of e-commerce sites provides our members with access to groceries, golf, nearby escapes, and family offers. Our portfolio houses some of Canada's most coveted online destinations including trulocal.ca, UnderPar.com, WagJag.com, JustGolfStuff.ca, and BeRightBack.ca. EMERGE was named one of the fastest growing companies in Canada by the Startup 50, and the Globe and Mail's 2020 Canada's Top Growing Companies.
To learn more, visit www.emerge-commerce.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding forward-looking statements
SOURCE EMERGE Commerce Ltd.