- Sayward’s IPO consisted of 5,000,000 common shares at $0.10 per share for gross proceeds of $500,000
- Haywood Securities Inc. acted as the agent receiving both a cash commission and non-transferable warrants
- Sayward Capital is a capital pool company and intends to use the net proceeds of the offering to complete a qualifying transaction
- Sayward’s common shares will trade on the TSXV under the trading symbol SAWC upon final closing of the IPO
Sayward Capital (SAWC) has successfully completed its initial public offering.
The company offered 5,000,000 common shares at $0.10 per share for gross proceeds of $500,000. Following the completion of the offering, the corporation will have 8,000,000 common shares issued and outstanding.
Haywood Securities Inc. acted as the agent. Sayward granted the agent non-transferable warrants which entitle the holder to purchase an aggregate of 500,000 common shares at an exercise price of $0.10 per share. The agent’s warrants will expire 60 months from the date the common shares are listed on the TSX Venture Exchange. Harwood Securities also received a cash commission equal to 10% of the gross proceeds of the offering.
Sayward also granted options to acquire an aggregate of 500,000 common shares at a price of $0.10 per share to directors and officers of the corporation, which options expire five years from the date of grant.
The corporation is a “capital pool company” and intends to use the net proceeds of the offering to complete a “Qualifying Transaction” under the policies of the Exchange.
On July 15, 2021, the Exchange issued a bulletin for the listing of Sayward’s common shares as of market open on July 19, 2021, under the trading symbol SAWC.