- Logiq (OTCQX:LGIQ -1.3%) prices its Canadian IPO at C$3 per unit to raise between C$5M and C$10M.
- Each unit will consist of one common stock and 1 warrant to buy one common share at an exercise price of C$3.50 apiece, exercisable for 36 months.
- The company has granted Research Capital Corporation, the lead agent and sole bookrunner, a 30-day option to increase the size of the offering by up to 15% of the units sold in the offering.
- Logiq says the net proceeds will be used for development of additional data analytics tools, sales generation and marketing, working capital and other general corporate purposes.
- The offering is expected to close around June 17.
- Source: Press Release