NexTech AR (NTAR) has entered into an amended agreement with Mackie Research Capital Corporation as its sole underwriter and bookrunner.
The company says this will increase the size of the previously announced bought-deal short-form prospectus offering of units of the company to an aggregate of 2,610,000 units at a price of $5.00 per unit for aggregate gross proceeds of $13,050,000.
Each unit shall be comprised of one common share of the company and one-half of one common share purchase warrant.
Each warrant shall entitle the holder to purchase one common share at an exercise price of $6.00 at any time up to 24 months from closing of the offering, subject to an accelerated expiry if the volume-weighted average price of the common shares on the Neo Exchange Inc. exceeds $10.00 for 15 consecutive trading days.
The closing of the offering is expected to occur on or near March 11, 2021.
NexTech AR is down 8.30 per cent to C$5.19 per share.