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.
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.
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