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Vicinity Motor Corp V.VMC

Alternate Symbol(s):  VEVMQ

Vicinity Motor Corp. is a Canada-based supplier of electric vehicles for both public and commercial enterprise use. The Company leverages a dealer network and close relationships with manufacturing partners to supply its flagship electric, compressed natural gas (CNG) and clean-diesel vicinity buses, as well as the VMC 1200 electric truck to the transit and industrial markets. Its geographic segments include United Stated, and Canada. The Company's various buses and truck models include Vicinity Lightning EV, Vicinity Classic and VMC 1200. The Company’s subsidiaries include Vicinity Motor (Bus) USA Corp., and Vicinity Motor (Bus) Corp.


TSXV:VMC - Post by User

Comment by MrAnswerson Oct 05, 2021 6:06pm
159 Views
Post# 33971307

RE:RE:Closing of $10M Financing

RE:RE:Closing of $10M FinancingIts pretty self explanatory. They issued $10mil of debt at an 8% interest rate and for each $1000 of debt a person "bought" they also received 40 warrants with each warrant allowing the holder to buy a share at $7.50 within the next year; so even if the shares are trading at $10.00 they can still buy the shares at $7.50...so another 400,000 share dilution. In all honesty this is better than the massive shareholder dilution of last November when they issued an $8mil private placement when the shares were $2 (adjusted for share consolidation).  
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