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Ether Capital (NEO:ETHC) has announced it has priced its previously announced non-brokered private placement of its units for gross proceeds of approximately C$2 million. As quoted in the press release: The offer price (“Offer Price”) of each Unit will be $0.48 per Unit, which reflects the net asset value (“NAV”) of the Company on January …
Ether Capital (NEO:ETHC) has announced it has priced its previously announced non-brokered private placement of its units for gross proceeds of approximately C$2 million.
As quoted in the press release:
The offer price (“Offer Price”) of each Unit will be $0.48 per Unit, which reflects the net asset value (“NAV”) of the Company on January 18, 2019 (“Pricing Date”) plus a pro-rata allocation of the expenses of the Offering. The NAV for the purposes of calculating the Offer Price was based on a market price of Ether of US$120, which was the average price of Ether from CoinMarketCap, Coinbase and Gemini as at 4:30 p.m. (Toronto time) on the Pricing Date.
Each Unit will be comprised of one common share of the Company (a “Common Share”) and one common share purchase warrant of the Company (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.58, which represents a 20% premium to the Offer Price, for a period of 12 months from the closing date of the Offering.
The Offering is expected to close on or about January 24, 2019 but remains subject to customary closing conditions including the consent of the Aequitas NEO Exchange (the “NEO Exchange”). The Company will use reasonable best efforts to list the Warrants on the NEO Exchange including satisfying the relevant listing requirements.
