Xtract One Scores Major Success with $11.5 Million Offering
On a notable day in Toronto, Xtract One Technologies Inc. (TSX: XTRA) (OTCQX: XTRAF) (FRA: 0PL) proudly announced the successful closure of its significant "bought deal" public offering. The event was facilitated by a reputable syndicate of underwriters led by Stifel Canada.
Details of the Offering
The offering yielded impressive results, with the issuance of 15,334,100 units, each priced at $0.75. The gross proceeds totaled approximately $11.5 million. This figure is particularly remarkable as it accounts for the full exercise of the over-allotment option granted to the underwriters. Within each unit, investors received one common share alongside one-half of a common share purchase warrant. An entire warrant can be exercised into one common share before November 10, 2028, at a price of $0.95.
Financial Benefits for the Company
As part of the financial arrangements for the offering, the underwriters earned a cash fee of around $690,034.50, supplemented by 920,046 warrants, also termed Underwriter’s Warrants. These warrants provide the undersigned the ability to purchase common shares at $0.75, with the same expiration as the regular warrants.
Usage of Proceeds
Xtract One is poised to strategically allocate these proceeds towards enhancing its working capital, along with general corporate objectives. This funding is a crucial stepping stone for the company as it aims to fortify its position in the fast-evolving security solutions sector.
About Xtract One Technologies
Xtract One is an innovative technology company that specializes in developing advanced threat detection and security solutions. By leveraging artificial intelligence, the company aims to enhance safety and ensure smooth, secure experiences at various facilities. Their unobtrusive weapons and threat detection systems help facility operators manage operations seamlessly while prioritizing safety. Their cutting-edge AI-powered Gateway solutions excel in discreetly screening for threats at entry and exit points, which is essential in today’s security landscape.
Future Innovations and Market Position
The firm has carved a niche in several markets, including schools, hospitals, sports arenas, and manufacturing facilities. By continuously innovating, Xtract One works to meet the unique security needs of its clients while ensuring the highest level of protection. Recognized as a market leader, Xtract One is committed to providing the top-tier security without compromising on user experience.
Commitment to Safety
Although no threat detection system can assure complete effectiveness against every potential danger, Xtract One solutions are designed to complement a multilayered approach to physical security. Their products enhance safety and reduce possible threats, making them an essential component for organizations seeking top-notch security arrangements.
Contact Information
For more information about Xtract One Technologies, inquiries can be directed to info@xtractone.com. Further details can be found on their official website, www.xtractone.com. Media representatives can reach out to Kristen Aikey at JMG Public Relations via kristen@jmgpr.com or by calling 347-394-8807. For investor relations, Chris Witty at Darrow Associates is available at cwitty@darrowir.com or 646-438-9385.
Frequently Asked Questions
What was the total amount raised in Xtract One's offering?
Xtract One raised a total of approximately $11.5 million through its public offering.
Who led the underwriting process for the offering?
The offering was led by Stifel Canada, which was part of the syndicate of underwriters.
How many units were issued in the offering?
A total of 15,334,100 units were issued at a price of $0.75 per unit.
What will Xtract One do with the proceeds from the offering?
The proceeds will be used for working capital and other general corporate purposes.
What are the main services provided by Xtract One?
Xtract One specializes in AI-driven threat detection and security solutions aimed at improving safety at various facilities.
