VIQ Solutions Announces C$15 Million Bought Deal Equity Offering
05 Novembro 2020 - 5:46PM
Business Wire
THIS NEWS RELEASE IS NOT INTENDED FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES.
VIQ Solutions Inc. (“VIQ” or the “Company”) (TSX
Venture Exchange: VQS), a global provider of secure, AI-driven,
digital voice and video capture technology and transcription
services, announced today that it has entered into an agreement to
sell to a syndicate of underwriters led by Paradigm Capital Inc.
(collectively, the “Underwriters”) on a bought deal basis
3,529,500 common shares (“Common Shares”) at an offering
price of C$4.25 per Common Share for gross proceeds of
approximately C$15 million (the “Offering”).
The Company has granted the Underwriters the option (the
“Over-Allotment Option”) to purchase up to an additional
529,425 Common Shares at a price of C$4.25 per Common Share,
exercisable at any time for a period of 30 days following closing
of the Offering, which, if exercised in full, would result increase
the gross proceeds of the Offering to approximately C$17.25
million.
The Company intends to use the net proceeds of the Offering to
fund the continued development of its product and service
offerings, to fund potential future acquisitions and for general
corporate purposes.
“This announcement marks a significant milestone in our growth
strategy. Clearly the industry and the equity markets are showing
their support of VIQ and our vision. This infusion of capital will
allow for the rapid acceleration of our acquisitions and ai
enhancements to deliver the most efficient technology in our
markets where digitization is accelerating”, commented Sebastien
Paré, the Company’s President and CEO.
The Common Shares will be offered in Canada by way of a short
form prospectus to be filed in Ontario, British Columbia and
Alberta, and elsewhere on a private placement basis in compliance
with applicable securities laws.
The Offering is expected to close on November 26, 2020 and is
subject to certain customary conditions including the approval of
the TSX Venture Exchange and applicable securities regulatory
authorities.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. This press release
does not constitute an offer of securities for sale in the United
States. The securities being offered have not been, nor will they
be, registered under the United States Securities Act of 1933, as
amended, and such securities may not be offered or sold within the
United States absent registration under United States federal and
state securities laws or an applicable exemption from such United
States registration requirements.
For more information about VIQ, please visit viqsolutions.com.
About VIQ Solutions Inc.
VIQ Solutions is a global provider of secure, AI-driven, digital
voice and video capture technology and transcription services. VIQ
offers a seamless, comprehensive solution suite that delivers
intelligent automation, enhanced with human review, to drive
transformation in the way content is captured, secured, and
repurposed into actionable information. The cyber-secure, AI
technology and services platform are implemented in the most rigid
security environments including criminal justice, legal, insurance,
media, government, corporate finance, media, and transcription
service provider markets, enabling them to improve the quality and
accessibility of evidence, to easily identify predictive insights
and to achieve digital transformation faster and at a lower
cost.
Forward-looking Statements
Certain statements included in this news release constitute
forward-looking statements or forward-looking information under
applicable securities legislation. Such forward-looking statements
or information are provided for the purpose of providing
information about management's current expectations and plans
relating to the future. Readers are cautioned that reliance on such
information may not be appropriate for other purposes.
Forward-looking statements or information typically contain
statements with words such as "anticipate", "believe", "expect",
"plan", "intend", "estimate", "propose", "project" or similar words
suggesting future outcomes or statements regarding an outlook.
Forward-looking statements or information in this news release
include, but are not limited to, the expected closing date of the
Offering, VIQ’s intended use of the net proceeds of the Offering,
trends in the markets in which VIQ operates and the potential
exercise by the Underwriters of the Over-Allotment Option.
Forward-looking statements or information is based on several
factors and assumptions which have been used to develop such
statements and information, but which may prove to be incorrect.
Although VIQ believes that the expectations reflected in such
forward-looking statements or information are reasonable, undue
reliance should not be placed on such forward-looking statements,
as VIQ can give no assurance that such expectations will prove to
be correct. In addition to other factors and assumptions which may
be identified in this news release, assumptions have been made
regarding, among other things, VIQ’s ability to obtain all
necessary regulatory and stock exchange approvals for the Offering,
VIQ’s ability to identify and acquire suitable acquisition targets,
the accuracy of VIQ’s expectations with respect to industry and
market trends and global economic conditions including the
continuing effects of COVID-19. Readers are cautioned that the
foregoing list is not exhaustive of all factors and assumptions
that have been used. Forward-looking statements or information is
based on current expectations, estimates and projections that
involve several risks and uncertainties which could cause actual
results to differ materially from those anticipated by VIQ and
described in the forward-looking statements or information,
including the risks and uncertainties described under the heading
“Risk Factors” in VIQ’s Annual Information Form for the year ended
December 31, 2019, filed with the Canadian securities regulatory
authorities under VIQ’s SEDAR profile at www.sedar.com. These risks
and uncertainties may cause actual results to differ materially
from the forward-looking statements or information. Readers are
cautioned that the foregoing list is not exhaustive of all possible
risks and uncertainties. The forward-looking statements contained
in this news release are made as of the date of this news release
and, except as required by applicable law, VIQ undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
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version on businesswire.com: https://www.businesswire.com/news/home/20201105006146/en/
Media Contact: Laura Haggard Chief Marketing Officer VIQ
Solutions Phone: (800) 263-9947 Email:
marketing@viqsolutions.com
Investor Relations Contact: Laura Kiernan High Touch
Investor Relations Phone: 1-914-598-7733 Email: viq@htir.net
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