Versus Systems Inc. (NASDAQ:VS, CSE:VS) said it has entered into a definitive agreement with an institutional investor for the purchase and sale of 4,145,000 of the company's common shares at $0.52 each in a registered direct offering.
The closing of the offering is expected to occur on or about July 18, 2022.
Additionally, in a concurrent private placement, the company said it will issue to the investorm warrants to purchase up to 6,217,500 common shares. The warrants have an exercise price of $0.52 and will be exercisable six months following issue and will have a term of five and a half years following issue.
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Roth Capital Partners is acting as the exclusive placement agent for the offering.
The gross proceeds from this offering are expected to be around $2,155,215 and the company intends to use the net proceeds for working capital and general corporate purposes.
Versus Systems Inc. (NASDAQ:VS, CSE:VS) is an engagement and rewards company that makes live events, games, shows, and apps more fun to watch and play. Versus 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.s
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