Graph Blockchain (CSE: GBLC) last night announced that it will be conducting a private placement with institutional investors. The financing will see a total of $10.0 million raised in a financing lead by HC Wainwright & Co.
Under the terms of the financing, units will be sold at a price of $0.13 per each, with each unit containing one common share and one common share purchase warrant. Warrants are valid for a period of five years from the date of issuance, and contain an exercise price of $0.175 per share.
Proceeds from the financing will be used for working capital and general corporate purposes, including the acquisition of assets as well as potential strategic acquisitions or transactions.
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The financing is currently slated to close March 26, 2021.
Graph Blockchain last traded at $0.175 on the CSE.
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