- Plurilock (PLUR) has closed its bought-deal public offering of common shares for total gross proceeds of $4.6 million
- The company issued a total of 9,200,000 Shares at the price of $0.50 per share
- Proceeds will be used for general working capital, research and development, marketing and general corporate purposes
- The underwriters were paid a cash commission of $263,550 and issued 527,100 underwriters’ warrants
- Plurilock is an innovative, identity-centric cybersecurity company
- Plurilock Security Inc. (PLUR) is unchanged, trading at C$0.52 per share at 12 pm ET
Plurilock (PLUR) has closed its previously-announced bought-deal public offering of common shares for total gross proceeds of $4.6 million. The company issued a total of 9,200,000 Shares at the price of $0.50 per share.
The offering was completed by a syndicate of underwriters led by Leede Jones Gable Inc., including PI Financial Corp. and Paradigm Capital Inc. The underwriters fully exercised the over-allotment option.
The proceeds will be used for general working capital, research and development, marketing and general corporate purposes.
The underwriters were paid a cash commission of $263,550 and issued 527,100 underwriters’ warrants.
Ian L. Paterson, CEO of Plurilock commented on the successful financing.
“We are pleased to announce the closing of our bought deal financing, led by strong institutional investor demand and insider participation.
The proceeds raised from this offering will enable us to continue executing on our vision of building an identity-centric focused cybersecurity company, and comes on the heels of our recently announced Cloud Codes asset purchase. This transaction is in line with our growth through acquisition strategy where we look to scale operations globally by finding assets that are complementary to our current offering. We believe this strong show of support from institutional investors and underwriters will not only assist us in locating those assets but accelerate our growth in the coming years.”
Plurilock provides identity-centric cybersecurity for today’s workforces. Plurilock offers world-class IT and cybersecurity solutions through its Solutions Division, paired with proprietary, AI-driven and cloud-friendly security through its Technology Division.
Plurilock Security Inc. (PLUR) is unchanged, trading at C$0.52 per share at 12 pm ET.
