Source: VIQ Solutions Inc.
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  • VIQ Solutions Inc. (VQS) has signed definitive agreements with a U.S. shareholder and a new U.S. institutional investor for roughly US$4.8 million
  • VIQ provides AI-driven digital voice, video capture technology, and transcription services
  • 3.5 million of its common shares and associated warrants are being sold for US$1.35 each
  • Warrants are exercisable for US$1.39 each any time after January 21st, 2023
  • Proceeds will be used for development of product and service offerings, potential future acquisitions, working capital, and general corporate purposes
  • VIQ Solutions Inc. (VQS) is down 13.64 per cent and is trading at $1.52 per share as of 12:51 p.m. ET

VIQ Solutions (VQS) has signed agreements with a U.S. shareholder and a new U.S. institutional investor for roughly US$4.8 million.

VIQ provides secure AI-driven digital voice, video capture technology, and transcription services. The platforms are used in security settings like criminal justice, legal, insurance, media, government, corporate finance, media, and transcription service provider markets.

According to VIQ, about 3.5 million of its common shares and associated warrants are being sold together at a combined offering price of US$1.35 per security.

The company stated the warrants have an exercise price of US$1.39 and can be used any time after January 21st, 2023. Warrants will expire five years following the issuance date thereof.

VIQ is expecting the closing of the sale of the securities to happen by July 21st.

VIQ stated it intends to use the net proceeds from the offering to continue developing product and service offerings, potential future acquisitions, working capital, and general corporate purposes.

VIQ Solutions Inc. (VQS) is down 13.64 per cent and is trading at $1.52 per share as of 12:51 p.m. ET.

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