RE:RE:RE:RE:RE:RE:RE:$15 Million Bought Deal Public Offering of UnitsYup when the shelf prospectus was filed mid Dec. the price was trading around ~$3
Here's the headline that makes me question the fiduciary responsibilities..! I'd like to know who the financing was supposed to be "favorable to".. it sure the heck wasn't the existing shareholders or the company.!! Calgary, Alberta (December 16, 2021) – Exro Technologies Inc. (TSX:EXRO, OTCQB: EXROF) (the “Company” or “Exro”), a leading clean technology company that has developed a new class of power electronics for electric motors and batteries, announced today that it has filed a final short form base shelf prospectus with the securities regulatory authorities in each of the provinces and territories of Canada. The final short form base shelf prospectus has been filed further to the preliminary short form base shelf prospectus, which was previously announced on November 18, 2021.
The shelf prospectus will provide for the potential offering in Canada of up to an aggregate of C$200,000,000 of Exro’s subordinate voting shares, preferred shares, debt securities, warrants, subscription receipts and units from time to time over a25-month period. Canadian securities regulatory authorities have issued a receipt for the final short form base shelf prospectus.
This shelf prospectus is being filed to give Exro the flexibility to take advantage of financing opportunities at its discretion and when market conditions are favourable. The terms of such future offerings, if any, will be established at the time of such offerings. At the time any of the securities covered by the shelf prospectus are offered for sale, a prospectus supplement containing specific information about the terms of any such offering will be filed with applicable Canadian securities regulatory authorities.