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Rockport Capital Corp. (TSXV:R.P) completes IPO

 John Ballem John Ballem , The Market Herald Canada
0 Comments| August 10, 2021

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Rockport Capital Corp (R.P) has successfully completed its initial public offering of 4,000,000 common shares for gross proceeds of $400,000.

Rockport now has 8,300,000 common shares issued and outstanding.

Rockport has granted PI Financial Corp. and its designated sub-agents, non-transferable warrants entitling the agent and designated sub-agents to purchase up to 400,000 shares at a price of $0.10. PI Financial also received a cash commission equal to 10 per cent of the gross proceeds of the offering, a corporate finance fee, and was reimbursed for its legal fees and other reasonable expenses.

Directors and officers of Rockport have been granted options to acquire an aggregate of 800,000 common shares at an exercise price of $0.10 per share. These options expire five years from the date of grant.

Rockport Capital is a "capital pool company" and intends to use the net proceeds of the offering to complete a qualifying transaction.

On August 6, 2021, the Exchange issued a bulletin approving the listing of the Common Shares as of market open on August 10, 2021, and immediately halting trading pending the closing of the offering.

The common shares will resume trading on the TSXV under the trading symbol R.P on August 12, 2021.



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