Workflow
Best Efforts Private Placement
icon
Search documents
Stack Capital Group Inc. Announces Upsize to Its Previously Announced Best Efforts Financing for Up to $30,000,000
Globenewswire· 2026-03-26 02:28
Core Viewpoint - Stack Capital Group Inc. has increased its private placement offering from $15 million to $30 million due to strong investor demand [1] Group 1: Offering Details - The Company has amended its agreement with Canaccord Genuity Corp. to act as the lead agent for a private placement of up to 1,133,334 units at a price of $18.75 per unit, aiming for gross proceeds of approximately $21.25 million [1] - An additional 20% of the units may be offered under the Agents' Option, potentially raising total gross proceeds to $34.25 million if fully exercised [2] - Each unit consists of one common share and one-quarter of a common share purchase warrant, with warrants exercisable at $23.00 per share for 24 months [4] Group 2: Management Participation - Members of the Company management plan to subscribe for at least $1 million of units under the Concurrent Private Placement [3] Group 3: Use of Proceeds - The net proceeds from the Offering will be utilized for investments in line with the Company's investment principles and for general corporate and working capital purposes [11] Group 4: Closing Dates and Fees - The LIFE Offering is expected to close around March 31, 2026, while the Concurrent Private Placement is anticipated to close around April 10, 2026 [12] - A cash fee of 5% of the gross proceeds will be paid to the Agents upon closing, along with a corporate finance fee of $100,000 to the Lead Agent [13] Group 5: Regulatory Compliance - The Company has applied for the listing of the Unit Shares, Warrants, and Warrant Shares on the Toronto Stock Exchange, with no guarantee that distribution requirements will be met [6] - The LIFE Offering is being conducted under the listed issuer financing exemption, allowing for certain exemptions from prospectus requirements [7]