Versus Systems Inc. (NASDAQ:VS, CSE:VS) announced on Friday that its reasonable best efforts public offering of 13,043,490 shares and accompanying warrants to purchase up to an additional 13,043,490 shares will be priced at $0.23 per share and accompanying warrant.
The company said the warrants have an exercise price of $0.23 per share, are immediately exercisable upon issuance, and will expire five years from the date of issuance.
The gross proceeds of the offering of about $3 million will be used for working capital and general corporate purposes such as marketing and sales expenses, the continued development of its engagement and rewards platform, and salaries and wages.
The offering is expected to close on or about October 17, 2023.
Versus Systems is an engagement and rewards company that makes live events, games, shows, and apps more fun to watch and play.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on X, formerly known as Twitter, @emilyjjarvie