11 July 2023capital raising announcement● Neutral
The underwriters fully exercised their option to buy another 453,750 shares at US$2.40, closed July 11, 2023, adding about US$1.09 million gross. The offering totals 3,478,750 new shares and about US$8.35 million gross, for acquisitions and/or working capital, which further dilutes existing shareholders. The release now lists the shares on both Nasdaq and the TSX under VOXR, so the TSX listing noted as conditional on June 16 appears completed.
What it means for a shareholder
453,750 new shares at US$2.40 to raise about US$1.1m. That's 1.0% dilution: every existing holder's slice gets 1.0% smaller. If you held US$1,000 of shares (417 at the issue price), your slice goes from 0.000931% to 0.000922% of the company. To keep it you'd need 4 more shares - about US$10 at the issue price.
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