RE:RE:RE:RE:RE:RE:RE:RE:RE:Anyone buying EXRO-WT? Up 70.45% today. If one doesn't mind it's EXRO.WT. is the quoted warrants that is being discussed and traded ..
NR dated Feb 4 / 2022
CALGARY, AB, Feb. 4, 2022 /CNW/ – 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 closed its previously announced bought deal offering (the "Offering"). Pursuant to the Offering, Exro sold 12,722,450 units (the "Units") at a price of $1.60 per Unit (the "Issue Price") for aggregate gross proceeds of $20,355,920. The total number of Units sold in the offering includes 1,659,450 Units issued pursuant to the exercise of an overallotment option granted to the Underwriters, which was fully exercised by the Underwriters. Each Unit consists of one common share in the capital of the Company, and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable for one common share at a price of $2.00 per common share until February 4, 2025.
The Offering was completed through a syndicate of underwriters led by Eight Capital and Raymond James Ltd., as co-lead underwriters and joint bookrunners and including Haywood Securities Inc., ATB Capital Markets Inc. and Laurentian Bank Securities Inc. (collectively, the "Underwriters"). In connection with the Offering, the Underwriters were issued 750,847 broker's warrants each entitling their holder to acquire one common share of the Company at the Issue Price for a period of 36 months following the closing of the Offering.
The Units were offered by way of an amended and restated prospectus supplement dated February 1, 2022, to the Company's base shelf prospectus dated December 16, 2021, filed with the securities regulators in each of the provinces of Canada, copies of which are available under the Company's profile on SEDAR at www.sedar.com.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.