On February 8, 2021, Vext Science, Inc. closed a bought deal public offering of 18,515,000 units at a price of $1.12 per unit for aggregate gross proceeds of approximately $20.7 million, which includes the full exercise of the underwriters’ over-allotment option. Each unit is comprised of one common share and one-half of one common share purchase warrant of Vext. Each warrant entitles the holder to purchase one subordinated voting share at an exercise price of $1.40 until February 8, 2024.
The offering was conducted by Beacon Securities Limited, as lead underwriter and sole bookrunner, on its own behalf and on behalf of a syndicate of underwriters including Canaccord Genuity Corp. and Eight Capital.
Cassels acted for the underwriters.