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  • Exro Technologies Inc. (EXRO) closes its $20.3 million public offering
  • Exro sold 12.7 million units at a price of $1.60 per unit
  • The offering includes 1.6 million units issued according to the exercise of an overallotment option used by the underwriters involved
  • Each unit consists of one common share of Exro, and one half of one common share purchase warrant for $2.00 per share
  • The underwriters were also issued 750,847 broker’s warrants which allows holders to acquire on common share for $1.60 each
  • Exro Technologies Inc. (EXRO) is up 6.05 per cent and is trading at $1.31 per share as of 1:56 p.m. EST

Exro Technologies Inc. (EXRO) has closed its previously announced bought deal public offering for proceeds of $20.35 million.

Exro is an industrial company that has developed a control technology that expands the capabilities of electric motors, generators, and batteries.

Exro sold 12.7 million units at a price of $1.60 per unit.

The offering includes 1.6 million units issued according to the exercise of an overallotment option used by the underwriters involved.

Each unit consists of one common share of Exro, and one half of one common share purchase warrant.

Each warrant is exercisable for one common share at a price of $2.00 per common share until February 4, 2025.

The underwriters were also issued 750,847 broker’s warrants.

Each broker warrant allows its holder to acquire one common share at the same issue price of $1.60 for three years after closing the offering.

The units were offered by way of an amended and restated prospectus supplement.

Exro Technologies Inc. (EXRO) is up 6.05 per cent and is trading at $1.31 per share as of 1:56 p.m. EST.

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