When it comes to capital raises, it appears the market is quite frothy. Namaste Technologies (TSXV: N) last night was one of the latest firms to announce a financing, with the company looking to conduct a bought deal financing. The financing will look to raise a total of $10.2 million for the company.
Under the terms of the financing, Namaste will see units of the company sold at $0.35 a piece, with each unit consisting of one common share and one common share purchase warrant, with a total of 29.0 million units slated to be sold. Each warrant has an expiry of three years from the date of issue, while having an exercise price of $0.47 per share. An over-allotment option has also been granted under the financing.
Net proceeds from the financing are to be used for working capital and general corporate purposes.
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The financing is anticipated to close by January 19, 2021.
Namaste Technologies last traded at $0.415 on the TSX Venture.
Information for this briefing was found via Sedar and Namaste Technologies. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
