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Exro Technologies Inc T.EXRO

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

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 02, 2022 9:44am
231 Views
Post# 34388672

Warrant within a warrant

Warrant within a warrant
https://www.tsx.com/resource/en/436
 
It appears that the initial offer was at variance with TSX Policy 4.2, Prospectus Offerings,  which might explain the the reason for amended supplement:
 
"1.6 Unit Offering
The following requirements apply to unit offerings that include Warrants: 
(c) A Warrant comprising part of a unit must not entitle the holder to acquire a Warrant upon exercise;"
 
The first offer allowed the underwriters to purchase a broker's compensation warrant for $1.60,  which included within  another  warrant  for $2.00 
 
If this is the case, then it might explain why EXRO increased the initial offer size, that is, to help compensate the brokers for the revenue they could have have made from the $2.00  warrant.
 
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