Big Blockchain increases bought deal to $17-million
BIG BLOCKCHAIN Intelligence Group Inc. has amended the terms of its previously announced bought deal with an increase to 22.67 million common shares at a price of 75 cents per share for aggregate gross proceeds to Big Blockchain of $17,002,500. The offering will be underwritten by a syndicate of underwriters led by GMP Securities LP and including Canaccord Genuity Corp., Cormark Securities Inc., Haywood Securities Inc. and PI Financial Corp.
The underwriters will also have the option, exercisable up to two business days prior to the closing date of the offering, to arrange for the purchase of up to an additional 3,400,500 common shares at the offering price for additional gross proceeds of up to $2,550,375. In the event that the option is exercised in its entirety, the aggregate gross proceeds would increase to $19,552,875.
The terms of the financing and use of proceeds remain as previously disclosed in all other respects.
“We are pleased that as a result of strong investor demand, we were able to secure a financing of $17.0-million plus the overallotment option to fund the growth of the company, which is in line with our original financing objectives. The initial $10.0-million size provided a good starting point to solicit interest given the lack of trading history for Big,” stated Lance Morginn, chief executive officer of Big Blockchain.
About Big Blockchain Intelligence Group Inc.
Big is headquartered in Vancouver, B.C., Canada, and is an information technology company. Big has developed from the ground up a blockchain agnostic search and analytics engine allowing regtech, law enforcement and government agencies to trace, track and monitor cryptocurrency transactions at a forensic level. Big presently has two products: QLUE and Bitrank. QLUE is a software-as-a-service (SaaS) platform for law enforcement and anti-money laundering (AML) departments to aid in the fight against financial crimes involving bitcoin.
We seek Safe Harbor.
Jatinder Bains, Rajen Singh Janda, Sonny Janda, Spiro I Kletas
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