NetworkNewsBreaks – Patriot One Technologies, In
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Posted On: 10/31/2017 5:50:41 PM
NetworkNewsBreaks – Patriot One Technologies, Inc. (TSX.V: PAT) (OTCQB: PTOTF) Closes Equity Financing Deal
Patriot One Technologies, Inc. (TSX.V: PAT) (OTCQB: PTOTF) today confirmed the closing of its recently announced bought deal equity financing. The company sold roughly 9.6 million units at a price of $1.20 each for gross proceeds of $11.523 million. These figures included the 1.25 million units sold pursuant to the full exercise of the underwriters’ over-allotment option. Per the news release, each unit consists of one common share of the company’s Canada-listed stock and one half of one common share purchase warrant. The warrants, which will be listed and posted for trading on the TSX Venture Exchange under the symbol ‘PAT.WT.A’, are exercisable to acquire one common share of the company’s stock for a period of 36 months following the closing of the offering at an exercise price of $1.70 per warrant share. Patriot One intends to use net proceeds from the offering to fund its international expansion and accelerate the deployment of its technology, as well as for general working capital purposes.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Patriot One Technologies, Inc. (TSX.V: PAT) (OTCQB: PTOTF) today confirmed the closing of its recently announced bought deal equity financing. The company sold roughly 9.6 million units at a price of $1.20 each for gross proceeds of $11.523 million. These figures included the 1.25 million units sold pursuant to the full exercise of the underwriters’ over-allotment option. Per the news release, each unit consists of one common share of the company’s Canada-listed stock and one half of one common share purchase warrant. The warrants, which will be listed and posted for trading on the TSX Venture Exchange under the symbol ‘PAT.WT.A’, are exercisable to acquire one common share of the company’s stock for a period of 36 months following the closing of the offering at an exercise price of $1.70 per warrant share. Patriot One intends to use net proceeds from the offering to fund its international expansion and accelerate the deployment of its technology, as well as for general working capital purposes.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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