The offering is expected to close on or about November 8, 2024, subject to certain conditions including the receipt of all necessary approvals. The company also plans to accept subscriptions until 6:15 a.m. (Pacific time) on November 7, 2024. The offering may be conducted in the United States pursuant to exemptions from the registration requirements under Regulation D of the United States Securities Act of 1933.
Key takeaways:
- VERSES AI Inc. intends to complete a non-brokered private placement of up to 6,800,000 units of the Company (the “LIFE Units”) at a price of $0.50 per Unit for aggregate gross proceeds of up to $3.4 million.
- They also plan a non-brokered private placement of up to 3,200,000 special warrants (the “Special Warrants”) of the Company, each exercisable for one unit of the Company (each, an “Equity Unit”) at no additional cost, for aggregate gross proceeds of up to $1.6 million.
- The net proceeds of the Offering will be used for general working capital and other general corporate purposes.
- The Offering is anticipated to close on or about November 8, 2024, and completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Exchange.