PHOENIX, Arizona – (COMMERCIAL THREAD) – VIQ Solutions Inc. (“VIQ“or the”Society“) (TSX and Nasdaq: VQS) announces today that it has closed its previously announced registered direct placement with institutional investors (the”Offer“). In connection with the placement, the Company sold 4,235,294 units (the “Units”) At a price of US $ 4.25 per Unit for gross proceeds to the Company of approximately US $ 18,000,000 before deduction of fees and other estimated expenses of the Offering.
AGP / Alliance Global Partners acted as sole placement agent for the Offer.
Each unit consists of one ordinary share of the Company (a “Ordinary share“) And a half common share purchase warrant (each whole common share purchase warrant, a”To guarantee“). Each warrant grants its holder the right to purchase one common share (a “Warrant share”) At an exercise price of US $ 5.00, subject to adjustment in certain circumstances. The warrants may be exercised from the date which falls six months after their date of issue (the “Date of issue“) and will expire five years from the date of issue.
VIQ intends to use the net proceeds of the Offering to further develop product and service offerings, possible future acquisitions as well as working capital and general corporate purposes.
The offering was made in the United States only under the Company’s short form base shelf prospectus dated June 10, 2021 (the “Basic Prospectus Shelf“), filed with the securities regulators of each of the provinces of Canada other than Quebec, and the corresponding registration statement on Form F-10 (the”Declaration of registration“) filed by the Company with the United States Securities and Exchange Commission (“SECOND“) under the multi-jurisdictional disclosure system of the United States and Canada (“MJDS“). A supplement to the prospectus (the “Extra charge) The base shelf prospectus has been filed on a non-offer basis with the relevant securities regulatory authorities in Canada and with the SEC as part of the registration statement under the MJDS. Copies of the Supplement and the Base Shelf Prospectus are available on SEDAR at www.sedar.com and copies of the Supplement and the Registration Statement are available on EDGAR at www.sec.gov.
No securities regulatory authority has approved or disapproved of the contents of this press release. This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of such securities in any state or jurisdiction in which any such offer, solicitation or sale would be illegal. prior to registration or qualification under the securities laws of any such state or jurisdiction.
VIQ is a global provider of secure, AI-based digital voice and video capture technologies and transcription services. VIQ offers a seamless, comprehensive suite of solutions that deliver intelligent automation, enhanced by human scrutiny, to drive the transformation of how content is captured, secured, and reused into actionable information. The cyber-secure AI technology and services platform is implemented in rigid security environments, including criminal justice, legal, insurance, government, corporate finance, media and transcription service providers, enabling them to improve the quality and accessibility of evidence, to easily identify predictive insights and achieve digital transformation faster and at lower cost.
For more information on VIQ, please visit viqsolutions.com.
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”), Including statements regarding the intended use by the Company of the net proceeds of the Offering. Forward-looking statements are based on certain expectations and assumptions and are subject to known and unknown risks and uncertainties and other factors that could cause actual events, results, performance and achievements to differ materially from those anticipated in such statements. prospective. Forward-looking statements should not be interpreted as guarantees of future performance or results. A more complete discussion of the risks and uncertainties facing the Company can be found in the supplement, base shelf prospectus and registration statement and most recent annual information form of the Company and other continuous disclosure documents incorporated by reference in the Supplement, Base Shelf Prospectus and Registration Statement, which are available on SEDAR at www.sedar.com and EDGAR at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise forward-looking statements as a result of new information or future events, or for any other reason.