VANCOUVER, BC / ACCESSWIRE / October 21, 2021 / Vicinity Motor Corp. (TSXV:VMC) (NASDAQ:VEV) (FRA:6LGA) (“Vicinity Motor” or the “Company”), a leading North American supplier of commercial electric vehicles, today announced an underwritten public offering (the “Offering”) of 3,990,610 units of the Company (the “Units”) at a price of US$4.26 per Unit for gross proceeds to the Company of approximately US$17 million.
Spartan Capital Securities, LLC (“Spartan Capital”) is acting as sole book-running manager for the Offering. Revere Securities LLC is the exclusive selling group member for the Offering.
Each Unit consists of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share (a “Warrant Share”) at an exercise price of US$5.10, subject to adjustment in certain circumstances. The Warrants will be exercisable immediately upon issuance (the “Issuance Date”) and will expire three years from the Issuance Date.
Source : Yahoo news.