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Shell Summary for Feb. 19, 2021

2021-02-19 20:34 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 26 points to 1,099 Friday. David Henderson's CE Brands Inc. (CEBI: halted) has filed a prospectus for a $15-million offering of subscription receipts at $4.15. It is raising money in connection with its qualifying transaction, which is the acquisition of eBuyNow eCommerce Ltd., a consumer electronics company. The prospectus discloses the revised QT terms and the names of the director nominees for the resulting issuer. The shell will roll back 1 for 20.75, leaving it with 414,457 shares issued, then issue 17.93 million shares to its target's shareholders. Previously, the shell was going to roll back 1 for 5 and issue 85 million shares.

eBuyNow makes and sells "smart" watches for Motorola (watches on which apps can run) as well as products for Kodak: video baby monitors, home security cameras and air purifiers. Its product development facility is in Hong Kong; software development is in Vietnam; and bookkeeping is in India. It makes most of its sales in the United States, the United Kingdom and Canada. The company is working on new products, including remote-controlled light bulbs, portable heaters, fans, air conditioners, humidifiers and dehumidifiers. It aims to start selling all these in 2021.

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