A share of Ynvisible Interactive Inc (OTCQB: YNVYF) closed up 22.49 percent to $0.5686 in the previous session. At the close, 84.30K shares of Ynvisible stock exchanged hands between a price range of $0.5187 and $0.5686. As a result of the private placement, YNVYF stock shot up.
An overview of private placement:
Ynvisible aims to be a leader in the expanding printed and flexible electronics market. Since printed electronics are both cheaper and power-efficient than traditional electronics, they are key enablers of mass adoption of the Internet of Things (“IoT”) and smart objects. Electrochromic materials, inks, and systems are a specialized area in which YNVYF excels.
In addition to interactive printed graphics, YNVYF offers low-power, mass-deployable, and easy-to-use electronic displays and indicators for everyday smart objects, Internet of Things devices, and ambient intelligence (intelligent surfaces).
The closing of the private placement of Ynvisible common shares and warrants to purchase Common Shares to institutional investors was announced today.
- The YNVYF received gross proceeds of approximately Cdn$12 million from the private placement.
- A Private Placement was undertaken by YNVYF, whereby the company issued 19,992,003 Common Shares and warrants to purchase 19,992,003 Common Shares of YNVYF stock at a purchase price of Cdn$0.61.
- An exercise price of $0.76 per Common Share applies to each YNVYF Warrant; the holder may exercise the Warrant prior to or on May 18, 2024.
- Exclusive placement agent Alliance Global Partners handled the private placement for YNVYF in the United States.
What does CEO say?
Michael Robinson, CEO of Ynvisible, said that the private placement:
- Is the largest private placement to date.
- Will allow YNVYF continue investing in and developing its technology.
- Will help Ynvisible (YNVYF) develop value-added IoT solutions that will benefit its customers.
- Will improve YNVYF’s relationship with US-based customers and shareholders, as well.