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NexTech AR announces public offering of units to help fund sales, marketing and R&D

Each unit will comprise one common share and one-half of one common share purchase warrant, which are exercisable into one common share at a price to be determined

Nextech AR Solutions Corp. - NexTech AR Solutions Corp, the augmented reality company. announces public offering of units
The offering is being led by Mackie Research Capital Corporation as sole agent and sole bookrunner

NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) announced Thursday a public offering of units in the augmented reality company.

The net proceeds will be used for sales and marketing expenses, research and development, working capital, and general corporate purposes, according to a statement.

The company said each unit will comprise one common share and one-half of one common share purchase warrant, which are exercisable into one common share at a price to be determined.

READ: NexTech AR doubles revenue, profit in preliminary 2Q results as demand surges for its InfernoAR video conferencing platform

NexTech said the final pricing of each unit, the exercise price of each warrant, and the term of each warrant will be determined in the context of the market prior to the filing of the final short form prospectus with securities regulators in Canada (except Québec).

The offering is being led by Mackie Research Capital Corporation as sole agent and sole bookrunner.

The company has granted Mackie an option to cover over-allotments. At any time up to 30 days from the closing of the offering, the agent can increase the size of the offering by up to 15% of the number of units sold.

The closing of the offering is expected on or about the week of August 17, and is subject to certain conditions including, but not limited to the execution of an agency agreement and the receipt of all necessary regulatory approvals including the approval of the Canadian Securities Exchange.

Quick facts: Nextech AR Solutions Corp.

Price: 6.09 CAD

CSE:NTAR
Market: CSE
Market Cap: $420.57 m
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