LQwD FinTech Corp announced terms of its marketed offering of units to help accelerate its payment infrastructure solutions technology.
The technology company plans to issue 17,143,000 units at a price of C$0.35 per unit for gross proceeds of C$6,000,050.
Each unit consists of one share and one half of one warrant exercisable for a period of 24 months at a price of C$0.50.
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The offering is being conducted by a syndicate of underwriters led by Canaccord Genuity (TSX:CF, LSE:CF) Corp as lead underwriter. LQwD has granted the underwriters an option, exercisable at any time for a period of 30 days after and including the closing of the offering, to purchase up to an additional 15% of the units sold on the same terms and conditions of the offering.
The overallotment option may be exercisable to acquire units, shares and/or warrants (or any combination thereof) at the discretion of the underwriters.
Net proceeds from the offering will be used for general corporate and working capital purposes, LQwD said in a statement.
Vancouver-based LQwD FinTech is a financial technology company that develops and provides payment network infrastructure and solutions on top of the Lightning Network, a scalable Layer 2 solution built on top of the Bitcoin blockchain.
The closing of the offering is expected to occur on or about October 28, 2021.
--Updated with terms of offering--
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