Namaste Increases Bought Deal Offering

Namaste Technologies (CSE:N; OTCQB:NXTTF) announced an increase to it’s bought deal offering with Eight Capital, Canaccord Genuity, and Beacon Securities for gross proceeds of over $35 million.

As quoted in the press release:

Namaste Technologies is pleased to announce that it has entered into an amended letter of engagement with Eight Capital and Canaccord Genuity Corp. as co-lead underwriters and joint bookrunners, and including Beacon Securities Limited (together, the “Underwriters”), under which the Underwriters have now agreed to purchase 13,726,000 units of the Company (the “Units“), on a “bought deal” basis pursuant to a filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $2.55 (the “Issue Price“) for gross proceeds of $35,001,300 (the “Offering“).

The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional approximately $5,250,195 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be approximately $40,251,495.

Click here to read the full press release.

Source: www.marketwired.com