RE:There must be a high demand for a block of sharesAbsolutely right and it clearly shows that the investment community has very strong convictions that CTS will do well in the future. I expect that the over-allotment option will be exercised in full. GLTA
07:12 AM EST, 01/06/2021 (MT Newswires) -- Converge Technology Solutions (CTS.V), which touched 52 week highs yesterday, overnight Tuesday said it has set out to arrange the purchase, on a bought deal basis, of 10.3 million shares of the company at $4.85 apiece for $50.0 million .In the event the over-allotment option is exercised in full, the aggregate gross proceeds of the Offering will be $57.5 million .
Proceeds will be used for acquisitions, among other purposes.
Converge said in a statement that the offering is scheduled to close on or about January 15, 2021.
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