Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) has announced a repricing of its previously planned financing, and the company is moving forward with a non-brokered private placement, intending to raise up to C$2.8 million.
The private placement will see Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) issue up to 28 million units at C$0.10 per unit.
Each unit consists of one common share and one common share purchase warrant. The warrant will allow investors to purchase an additional share at C$0.15, exercisable for 24 months from the issuance date.
If the company’s shares trade above C$0.30 for 10 consecutive days on the Canadian Securities Exchange, Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) may accelerate the expiry of the warrants to 30 days after notifying holders.
The funds raised will support working capital and general corporate purposes. The company will also pay an 8% cash finder’s fee to eligible registrants aiding in the offering, along with issuing broker warrants at C$0.15, valid for 24 months.