By Laura Lutz
Des Moines, July 24 - RepeatSeat Ltd. completed its previously announced private placement of units for C$3,580,060, down from the C$4 million maximum deal size announced on May 17.
The company sold 14,320,240 units of one share and one warrant at C$0.25 per unit. Each warrant will be exercisable at C$0.40 for one year.
The deal settled in two tranches. The first, for C$3,568,935, closed on June 29. The second, for C$10,680, closed on July 24.
The placement was non-brokered.
Proceeds from the units will be used to retire about C$1 million in existing debt and for general corporate purposes.
Based in Calgary, Alta., RepeatSeat provides ticketing and other services to entertainment venues.
| Issuer: | RepeatSeat Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$3,580,060
|
| Units: | 14,320,240
|
| Price: | C$0.25
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | May 17
|
| Settlement date: | June 29 (for C$3,568,935); July 24 (for C$10,680)
|
| Stock symbol: | TSX Venture: RPS
|
| Stock price: | C$0.29 at close May 16
|
| Stock price: | C$0.245 at close July 24
|
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