New $5M Bought Deal Offering With Eight Capital It’s always important for a company to have a good cash position when looking to scale. And with $GMG.V nearing the completion of their graphene cells, manufacturing and distribution scaling is just around the corner $GMG.V just announced a $5M bought deal unit offering to size up their cash position in preparation for future developments. The capital raise will consist of a few things.
- Eight Capital as lead underwriter and sole bookrunner, together with a syndicate of underwriters, will purchase 1,819,000 units of the $GMG.V, at a price per Unit of $2.75 for gross proceeds of $5,002,250
- Each unit consists of one share and one warrant exercisable at $3.35 (they were also granted a 15% over-allotment option for the next 30 days.
- $GMG.V intends to use the net proceeds for growth initiatives, working capital, and general corporate purposes.
[https://ca.finance.yahoo.com/news/gmg-announces-5-million-bought-012300151.html]
With the AGM now being held virtually on November 24th, it’ll be a good time to receive in-depth answers about timelines and the work that $GMG.V has been doing over the past few months. Considering the recently updated results for their graphene battery cells, they have significant potential to take advantage of their superior technology (charges faster, costs less, is environmentally friendly, and is safer) and lack of competitors in the graphene space. The current valuation could provide an attractive entry point when considering the future cash flow potential.