DigiMax Announces $13.2 Million Placement For Institutional Investors
DigiMax Global (CSE: DIGI) this morning announced that it will be conducting a private placement with institutional investors. The financing will see the company raise $13.2 million in gross proceeds in a financing lead by H.C. Wainwright & Co.
Under the terms of the financing, the financing will see the sale of 37.8 million units of company at a price of $0.35 per unit. Each unit is to consist of one common share and one common share purchase warrant, valid for a period of three and a half years from the date of issuance at a price of $0.365 per share.
Proceeds from the financing are to be used for working capital and general corporate purposes, including possible strategic partnerships that will see the company acquire firms in the AI or blockchain and crypto space.
The financing is set to close March 17, 2021.
DigiMax Global last traded at $0.365 on the CSE.
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