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Source: Zentek Ltd.
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  • Zentek (ZEN) has announced a bought deal public offering for proceeds of $20.0 million
  • The company will issue 419,000 common shares priced at $5.85 per share
  • Zentek has also announced a concurrent non-brokered private placement for gross proceeds of approximately $12.5 million
  • The offerings are expected to close on or about December 8, 2021
  • Zentek is an IP development and commercialization company focused on next-gen healthcare solutions
  • Zentek Ltd. (ZEN) opened trading at C$7.05 per share

Zentek (ZEN) has announced a bought deal public offering for proceeds of $20.0 million.

The company will issue 419,000 common shares priced at $5.85 per share.

The company has granted the underwriters the option to purchase up to an additional 15 per cent of the shares exercisable at any time up to 30 days following the closing of the offering.

Zentek has also announced a concurrent non-brokered private placement of 2,137,000 shares at $5.85 per share for aggregate gross proceeds of approximately $12.5 million.

The net proceeds from the offerings will be used for capital expenses, research and development, acceleration of business growth opportunities and working capital.

The offerings are expected to close on or about December 8, 2021, and are subject to regulatory approval.

Zentek is an IP development and commercialization company focused on next-gen healthcare solutions in the areas of prevention, detection and treatment. 

Zentek Ltd. (ZEN) opened trading at C$7.05 per share.

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