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Pivotal Financial Corp. (TSXV:PIV.P) completes IPO and listing on TSX Venture Exchange
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  • Pivotal Financial Corp. (PIV.P) has completed an initial public offering and is listed on the TSX-V
  • The corporation issued 10,000,000 common shares at a price of $0.20 per share, for aggregate gross proceeds of $2,000,000
  • The corporation granted iA Private Wealth Inc. (as agent) non-transferable warrants to acquire up to an aggregate of 1,000,000 common shares
  • iA Private Wealth also received a corporate finance fee and a cash commission equal to 10% of the gross proceeds of the offering
  • The common shares of the Company began trading on the TSX-V at the opening of the market on April 22
  • Pivotal Financial Corp. (PIV.P) is up 10 per cent, trading at C$0.22 per share at 1:30 pm ET

Pivotal Financial Corp. (PIV.P) has completed an initial public offering and is listed on the TSX-V.

The corporation issued 10,000,000 common shares at a price of $0.20 per share, for aggregate gross proceeds of $2,000,000.

iA Private Wealth Inc. acted as an exclusive agent for the offering. The corporation granted iA Private Wealth Inc. non-transferable warrants to acquire up to an aggregate of 1,000,000 common shares of Pivotal Financial. Each warrant is exercisable to acquire one common share at a price of $0.20 any time on or prior to April 22, 2026. The agent also received a corporate finance fee and a cash commission equal to 10% of the gross proceeds of the offering.

Pivotal Financial also granted stock options to directors and officers of the company to acquire up to an aggregate of 1,500,000 common shares. Each option is exercisable for one common share at a price of $0.20 any time on or prior to April 22, 2031.

Following completion of the offering, the company has 15,000,000 common shares issued and outstanding, 5,000,000 of which are subject to escrow restrictions as disclosed in the Prospectus.

The TSX Venture Exchange has accepted the company's listing application and the common shares of the Pivotal Financial were listed on the TSX-V at the close of business on April 21, 2021.

The common shares of the Company began trading on the TSX-V at the opening of the market on April 22, 2021, under the symbol "PIV.P".

Pivotal Financial Corp. is a capital pool company that has not commenced commercial operations and has no assets other than cash.

Pivotal Financial Corp. (PIV.P) is up 10 per cent, trading at C$0.22 per share at 1:30 pm ET.

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