On February 24, 2021, Red Light Holland Corp. closed a bought deal offering of 26,450,000 units at a price of $0.44 per unit for aggregate gross proceeds of approximately $11.6 million, which includes the full exercise of the underwriter’s over-allotment option. Each unit consists of one common share and one common share purchase warrant of Red Light Holland. Each warrant entitles the holder to purchase one common share at an exercise price of $0.70 for a period of 36 months following the closing, subject to acceleration in the event the volume weighted average trading price of the common shares exceeds $1.52 for 10 consecutive trading days.
The offering was completed by Eight Capital as sole underwriter.
Cassels acted for Eight Capital.