Corporate ActionJul 1, 2026, 06:06 AM
PowerBank to Sell Common Shares at $3.55 via Direct Offering
AI Summary
PowerBank Corporation entered into a Securities Purchase Agreement to sell its common shares to various purchasers at a price of $3.55 per share. A.G.P./Alliance Global Partners will serve as the exclusive placement agent for this registered direct offering, earning a 6.0% cash fee on gross proceeds. The offering is conducted under existing Canadian and U.S. prospectuses, with a maximum of C$200 million available under the Canadian shelf prospectus.
Key Highlights
- PowerBank to sell common shares to purchasers at $3.55 per share.
- A.G.P./Alliance Global Partners appointed as exclusive placement agent.
- Placement agent to receive a 6.0% cash fee on gross proceeds.
- Offering conducted under Canadian and U.S. prospectuses.
- Maximum C$200 million available under Canadian shelf prospectus.
- Directors and officers to enter into Lock-Up Agreements.
- 30-day restriction on issuing common shares post-closing.
Price Impact
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