Versus Systems Inc said it has closed its previously announced public offering of 4,375,000 units for gross proceeds of U$7 million before deducting underwriting discounts and commissions and other offering expenses.
The company said it intends to use the net proceeds from the offering for working capital and general corporate purposes.
Each unit in the offering consists of one common share, no par value per share, and one warrant to purchase one common share. The offering was priced at US$1.60 per unit with a warrant exercise price of US$1.92.
READ: Versus Systems announces pricing of its public offering for gross proceeds of US$7 million
In addition, the underwriters have partially exercised their option to purchase an additional 590,625 warrants at a purchase price of US$0.0001 per warrant, before deducting underwriting discounts and commissions.
D.A. Davidson & Co. and H.C. Wainwright & Co, acted as joint book-running managers and as representatives of the underwriters in the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (SEC) on February 2, 2022.
Versus Systems is an engagement and rewards company that makes live events, games, shows, and apps more fun to watch and play.
The company adds interactive games, polling, trivia, predictive elements, and other win conditions to existing entertainment - whether in-venue or online - making the content more contextual, personal, and rewarding.
Versus works with world-class sports teams, leagues, venues, entertainment companies, and other content creators to make engaging, rewarding experiences for fans all over the world.
Contact the author at jon.hopkins@proactiveinvestors.com