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Exro Technologies Inc T.EXRO

Alternate Symbol(s):  EXROF | T.EXRO.WT | T.EXRO.WT.A

Industrials
Exro Technologies Inc. is a clean technology company. The Company is engaged in developing power control electronics that expand the capabilities of electric motors and batteries. Its technologies include e-mobility (Coil Driver) and stationary energy storage (Cell Driver). The Coil Drive technology is an adaptive traction inverter that replaces the standard 3-phase inverter in electric vehicles. Utilizing its patented coil switching technology, the Coil Driver enables the motor to dynamically switch between two modes, series mode optimized for high torque at low speeds, and parallel mode optimized for high power and efficiency at high speeds. The Cell Driver technology is a fully integrated energy storage system designed for commercial and industrial applications. Its SEA-Drive power system provides a complete e-propulsion solution to original equipment manufacturers. It encompasses everything from high-capacity batteries and electric motors to next-generation control units.


TSX:EXRO - Post by User

Exro Technologies Inc > Up date on news
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Post by knoxton Jan 27, 2022 10:29am
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Post# 34366421

Up date on news

Up date on news
Update: Exro Falls 20% as Upsizes Bought Deal Public Offering to $17.5 Million

 

27 Jan 202210:18 ET  

 

10:18 AM EST, 01/27/2022 (MT Newswires) -- Exro Technologies Inc. (EXRO.TO), a clean technology company, was at last look trading almost 20% down on Thursday after increasing the size of its bought deal public offering of units to $17.5 million from $15 million.

The company said it has signed an amended agreement with underwriters to issue about 10.94 million units at $1.60 apiece. On Wednesday, when it surged 15.6%, it had said underwriters agreed to buy 9.375 million units.

Each unit comprises one share and one-half of a warrant. Each warrant is exercisable at $2.00 per share for 36 months.

Exro also granted an overallotment option for up to an additional 1.64 million units at $1.60 apiece, raising the proceeds to $20.13 million.

The company plans to use the proceeds for working capital and general corporate purposes. Closing is expected around Feb. 4.

Price: 1.55, Change: -0.38, Percent Change: -19.69

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