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Exro Technologies Inc T.EXRO

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

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

Post by Wriggleson Feb 01, 2022 5:43pm
212 Views
Post# 34387151

The PO

The PO
My understanding is that  bought deals come together very quickly, in less than a week.  There is a reason for this: to preclude pers with  early knowledge of a deal from benefitting as suggested in some posts. I suspect that when Sue explains the PO after the offering closes, she will say that the offer was presented to her by the syndicate with a short fuze attached, and she decided to accept, for reasons that she will make clear.
 
The underwriters generally are not permitted to buy the units for their own accounts under the base offer (different for the overallotment).  They make their money by way of commission, in this case, 6% of the cash value of the units sold plus 6% broker compensation warrants, and 15% overallotment shares and warrants, which are exercisable up to 30 day after the deal closes.  The terms are given in the Shelf Supplement that is available on SEDAR.  They seem a bit generous IMO.
 
The Supplement also provides more detail on how the funds will be used.  Pretty much what was said in the Shelf Prospectus.
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