Mr. Steve Li reports
D-BOX TECHNOLOGIES INC. ANNOUNCES PRICING OF OVERNIGHT MARKETED EQUITY OFFERING
D-Box Technologies Inc. has priced its previously announced overnight marketed public offering, whereby it will enter into an underwriting agreement with a syndicate of underwriters led by Canaccord Genuity Corp., acting as the lead underwriter and sole bookrunner, and including Echelon Wealth Partners Inc. and iA Private Wealth Inc., to sell 38.5 million units of D-Box at a price of 13 cents per unit for aggregate gross proceeds of approximately $5-million, exclusive of the overallotment option described herein.
Each unit consists of one Class A common shares of D-Box and one Class A common share purchase warrant. Each warrant entitles its holder to purchase one Class A common share of D-Box at a price of 16 cents for a period of 24 months following the closing of the offering.
D-Box has also granted to the underwriters an option to purchase up to an additional 5,775,000 units under the offering at the offering price, exercisable, in whole or in part, at the sole discretion of the underwriters, at any time up to 30 days after the closing date, for additional gross proceeds of up to $750,750.
D-Box will file an amended and restated preliminary short form prospectus in each of the provinces of Canada amending and restating the preliminary short form prospectus filed on Feb. 17, 2021, to reflect the terms of the offering. There will not be any sale of units until a receipt for the final short form prospectus has been issued. The offering is expected to close on or about March 4, 2021. The completion of the offering will be subject to certain customary conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.
The net proceeds from the offering are expected to be used for growth initiatives, working capital and general corporate purposes, as further described in the amended and restated preliminary short form prospectus.
An amended and restated preliminary short form prospectus containing important information relating to the units will be filed with the securities regulatory authorities in each of the provinces of Canada. The amended and restated preliminary short form prospectus will be subject to completion or amendment. Copies of the amended and restated preliminary short form prospectus relating to the offering, when available, may be obtained from the underwriters via e-mail at email@example.com. A copy of the amended and restated preliminary short form prospectus can also be obtained, following the filing thereof, under the corporate profile of D-Box on SEDAR. There will not be any sale or any acceptance of an offer to buy the units until a receipt for the final short form prospectus has been issued.
About D-Box Technologies Inc.
D-Box Technologies creates and redefines realistic, immersive entertainment experiences by moving the body and sparking the imagination through motion. D-Box has collaborated with some of the best companies in the world to deliver new ways to enhance great stories. Whether it be movies, video games, virtual reality applications, themed entertainment or professional simulation, D-Box creates a feeling of presence that makes life resonate like never before. D-Box Technologies is headquartered in Montreal, Canada, with offices in Los Angeles, United States, and Beijing, China.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.