Peak Fintech Group (CSE:PKK) closes short-form prospectus financing
Summary
Peak Fintech Group Inc. (PKK) has closed a public offering for gross proceeds of $52,600,000 The financing includes the partial exercise of an over-allotment option for an aggregate of 1,300,000 additional units The net proceeds will be used to expand services inside and outside of China and for working capital Peak Fintech Group is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating in China Peak Fintech Group Inc. (PKK) is down 0.51 per cent, trading at C$1.95 per share at 12 pm ETPeak Fintech Group Inc. (PKK) has closed a public offering of 26,300,000 units for aggregate gross proceeds of $52,600,000.Research Capital Corporation acted as lead agent and sole bookrunner for the financing.The financing includes the partial exercise of an over-allotment option for an aggregate of 1,300,000 additional units. Each unit includes one common share and one half share purchase warrant. Each whole warrant is exercisable for one common share at a price of $3.50 for a period of two years.This Financing marks the beginning of a new era for Peak, commented Peak CEO Johnson Joseph.It unlocks so many new opportunities for us in terms of expansion, partnerships and new revenue streams. Having secured the financial resources to fuel our short-term projects, we can now confidently complete and release our revenue and income forecasts for the next couple of years.The net proceeds will be used to expand services inside and outside of China, for working capital and general corporate purposes.The company has given notice to list the shares on the Canadian Securities Exchange.Peak Fintech Group is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating in Chinas commercial lending industry.Peak Fintech Group Inc. (PKK) is down 0.51 per cent, trading at C$1.95 per share at 12 pm ET.