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Spectra7 Microsystems Inc. Completes $7.92 Million Short Form Prospectus Offering and Concurrent Private Placement

Published: 08/21/2019

Team: Gregory Hogan, Rowan Groenewald

On August 21, 2019, Spectra7 Microsystems Inc. completed a best efforts prospectus offering of 65,255,480 units at a price of $0.05 per unit (the “Issue Price”) for aggregate gross proceeds of approximately $3.3 million. The syndicate of agents for the public offering was led by Haywood Securities Inc. and included Canaccord Genuity Corp. and Eight Capital.

Concurrently with the public offering, Spectra7 completed a private placement of 93,176,081 units at the Issue Price for additional gross proceeds of approximately $4.7 million, bringing the aggregate gross proceeds to Spectra7 to approximately $7.92 million.

Cassels Brock acted for the agents with a deal team that included Greg Hogan and Rowan Groenewald (Securities).