LeoNovus (LTV) has amended certain terms of its public offering, previously announced on March 29, 2021.
Pursuant to the amended terms, units will be offered at a price of $0.56 for minimum gross proceeds of $2,500,000 and maximum gross proceeds of $4,000,000.
Each unit is comprised of one common share and one common share purchase warrant. Each warrant is exercisable for one common share at $0.70 for a period of 36 months following the completion of the offering.
Research Capital Corporation is acting as lead agent and sole bookrunner on behalf of a syndicate of agents, including Canaccord Genuity Corp.
LeoNovus has granted the agents an option to increase the size of the offering by up to 15%, on the same terms and conditions.
Proceeds will be used for product development and management, sales and marketing, operating expenses, and general and administrative expenses as well as for working capital requirements and other general corporate purposes.
The offering is expected to close on or about the week of May 3, 2021.
LeoNovus is a secure data management software company.
LeoNovus Inc. (LTV) is down 7.14 per cent, trading at C$0.65 per share at 1:30 pm ET.