Workflow
VERSES® Announces Closing of C$9,573,758 (US$7,000,331) Public Offering of Units
Globenewswire·2025-07-14 05:00

Core Points - VERSES AI Inc. has successfully closed a public offering of 1,007,764 units at a price of C$9.50 (US$6.946) per unit, raising gross proceeds of approximately C$9,573,758 (US$7,000,331) [1][3] - Each unit consists of one Class A Subordinate Voting Share and one-half of a Share purchase warrant, with the warrant allowing the purchase of one share at an exercise price of C$11.50 (US$8.409) for 36 months [2] - The net proceeds from the offering will be used to strengthen the company's financial position, support ongoing operations, and fund research and development objectives [3] Financial Details - The company paid a cash commission of C$450,000 to the agents and issued 35,271 compensation warrants, each exercisable into a share at C$11.50 (US$8.409) [4] - Additionally, a cash fee of US$250,000 (C$341,904) was paid to a financial advisor, along with the issuance of 75,000 corporate finance fee warrants with identical terms to the compensation warrants [4] Regulatory Information - The offering was completed in Canada under a prospectus supplement and was filed with securities commissions across Canada, except Quebec, and with the U.S. SEC [5] - The offering was conducted in the U.S. under a registration statement declared effective by the SEC, which includes the base shelf prospectus [5][7]