Vox Royalty Corp (CVE:VOX) announced Thursday that it has launched an overnight marketed public offering to raise about C$15 million.
The company said it intends to use the net proceeds to support the continued growth of its portfolio of assets and for general corporate purposes.
Under the scheme, Vox is offering the units at C$3 each.
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Each unit consists of one ordinary share and one half of one ordinary share purchase warrant. Each warrant is exercisable to acquire one share for 36 months following the closing date at C$4.50 each, subject to adjustment in certain events.
Vox said the offering is expected to be priced in the context of the market, with the final terms to be determined at the time of pricing pursuant to the terms of an underwriting agreement to be entered into between the company, BMO Capital Markets, and Cantor Fitzgerald Canada Corporation as lead underwriters and joint bookrunners, and a syndicate of underwriters.
Vox said there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. It is expected to close on or about March 25.
In addition, Vox said it intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the units offered on the same terms and conditions. The over-allotment option may be exercised in whole or in part to purchase shares, warrants, or units as determined by the underwriters.
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