- Boosh Plant-Based Brands (VEGI) has completed its IPO of 5.75 million units
- Units were issued at a price of $0.50, generating gross proceeds of C$2,875,000
- A commission equal to 10% of the gross proceeds was paid to the company’s agent, Haywood Securities Inc
- Net proceeds from the offering will be used to support the company’s short-term business objectives
- Boosh Plant-Based Brands is a Canadian company that provides fast and convenient plant-based comfort foods
- Boosh Plant-Based Brands (VEGI) begins trading on the CSE on May 26th
Boosh Plant-Based Brands (VEGI) has completed its initial public offering of 5,750,000 units including the exercise in full of an over-allotment option.
Units were issued at a price of $0.50, generating aggregate gross proceeds of $2,875,000.
The company now has 15,575,500 issued and outstanding common shares, of which 4,416,439 are held in escrow.
Each unit comprised one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional share at an exercise price of $1.00 until May 26, 2022.
A commission equal to 10% of the gross proceeds was paid to the company’s agent, Haywood Securities Inc., through the issuance of an aggregate of 575,000 units, as well as a corporate finance fee of $40,000. In addition, the agent and its selling group members received 575,000 non-transferable agent’s options to acquire up to 575,000 shares at a price of $0.50 until May 26, 2022.
The company also granted an aggregate of 100,000 incentive stock options to consultants. Each option is exercisable at a price of $0.50 per share for a period of two years, vesting immediately.
Net proceeds from the offering will be used to support the company’s short-term business objectives.
Boosh Plant-Based Brands is a Canadian company that provides fast and convenient plant-based comfort foods.
Boosh Plant-Based Brands (VEGI) begins trading on the CSE on May 26th.
