The offering will consist of a minimum of 18,181,818 units and a maximum of up to 27,272,727 units. Each unit will be comprised of one common share and one-half of one common share purchase warrant. The company also granted the agents an option to purchase up to an additional 15% of the number of units sold. The proceeds from the offering will be used for operations, marketing, working capital, and general corporate purposes.
Key takeaways:
- Mojave Brands Inc. has announced a public offering of units at $0.55 per unit to raise gross proceeds of a minimum of $10 million and a maximum of $15 million.
- The offering is being carried out in connection with the proposed business combination of the Company, Light AI Inc., and LAI SPV Corp.
- The Company intends to delist the Common Shares from the Canadian Securities Exchange and list the Common Shares on Cboe Canada Inc.
- The Company intends to use the net proceeds from the Offering for operations, marketing, working capital and general corporate purposes.