- Tenet Fintech Group (PKK) has obtained a receipt for a preliminary short form prospectus from the securities regulatory authority in the province of Ontario
- The prospectus is in connection with a marketed public offering of units of the company for gross proceeds of a minimum of $20,000,000 and a maximum of $30,000,000
- The company intends to use the net proceeds raised from the offering to launch, market and operate its Business Hub in North America
- Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology and artificial intelligence companies
- Tenet Fintech Group Inc. was down 12.41 per cent, trading at $1.27 at 12:49 ET
Tenet Fintech Group (PKK) has obtained a receipt for a preliminary short-form prospectus from the securities regulatory authority in the province of Ontario.
The prospectus is in connection with a marketed public offering of units of the company for aggregate gross proceeds of a minimum of $20,000,000 and a maximum of $30,000,000.
The offering is being led by Research Capital Corporation as the lead agent and sole bookrunner on a ‘commercially reasonable efforts basis.
The company intends to use the net proceeds raised from the offering to launch, market and operate its Business Hub in North America, to help with the continuing expansion of its services in China, as well as for working capital and general corporate purposes.
Each unit will be made up of one common share of the company and one common share purchase warrant of the company.
Each warrant will be exercisable into one common share of the company at an exercise price to be determined in the context of the market for a period of twenty-four months from the date of issuance thereof.
The offering price of each unit and the exercise price of each warrant will be determined in the context of the market prior to the filing of the final short-form prospectus in respect of the offering.
The offering is expected to close on October 21, 2022, or such other date or dates as may be determined by the company and the agent
Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology and artificial intelligence companies.
Tenet Fintech Stock was down 12.41 per cent, trading at $1.27 at 12:49 ET.
