QYOU Media (QYOU) has announced an increase to its previously announced C$5,000,016 bought deal offering.
The gross proceeds from the upsized offering will be C$10,000,032.
A syndicate of underwriters including Canaccord Genuity Corp. and Gravitas Securities Inc. have agreed to purchase, on a bought deal basis, 17,857,200 units of the company at C$0.28 per unit.
Each unit will consist of one common share of the company and one-half of one common share purchase warrant.
Each warrant will entitle the holder to purchase one common share of the company for C$0.45 per warrant share for a period of 24 months following the February 25 closing date.
QYOU produces and distributes social media content including influencer marketing campaigns for major film studios and brands.
Created by industry veterans from Lionsgate, MTV, Disney and Sony, QYOU's millennial and Gen Z-focused content reaches more than 650 million consumers around the world.
QYOU Media (QYOU) is up 8.33 per cent, trading at C$0.325 per share at 10 am EST.