Mogo Finance arranges $15million bought deal
MOGO FINANCE Technology Inc. has entered into an agreement with a syndicate of underwriters, co-led by Cormark Securities Inc. and Canaccord Genuity Corp., pursuant to which the underwriters have agreed to purchase 2,142,900 common shares from the treasury of the company, at a price of $7 per share and offer them to the public by way of short
In addition, the company has granted the underwriters an option to purchase up to an additional 321,435 shares from the treasury of the company at the offering price exercisable at any time up to 30 days following closing (as defined herein), for market stabilization purposes and to cover overallotments, if any.
The net proceeds of the offering will be used for the development of its next-generation digital platform and new product launches, and including working capital and other general corporate purposes.
Closing of the offering is expected to occur on or about Dec. 28, 2017, and is subject to regulatory approval, including that of the Toronto Stock Exchange.
The shares to be issued under the offering will be offered by way of a short form prospectus in each of the provinces of Canada, except Quebec.
About Mogo Finance Technology Inc.
Mogo, a Vancouver-based financial technology company, is focused on building the best digital financial services experience for the next generation of Canadians. Mogo’s platform currently delivers five innovative products designed to help consumers get in control of their financial health. Built mobile first, users can sign up for a free Mogo account in only three minutes and get access to free credit score monitoring, identity fraud protection, the Mogo Platinum prepaid Visa card, mortgages and personal loans.
David Marshall Feller, Gregory Dean Feller, Thomas Craig Liston, Minhas N Mohamed, Ronald Thomas Patterson, Praveen Kumar Varshney
(MOGO) Shares: 18,458,051