Versus Systems announces $2.25M registered direct offering

Versus Systems announced that it has entered into definitive agreements with institutional investors for the purchase and sale of 2,500,000 of the Company’s common shares at a purchase price of $0.90 per common share in a registered direct offering priced at the market under Nasdaq rules. The closing of the offering is expected to occur on or about February 6, 2023, subject to the satisfaction of customary closing conditions. Immediately prior to the offering, the Company had 8,182,171 common shares outstanding, with the increase in outstanding shares resulting from the cash exercise of outstanding warrants. Roth Capital Partners is acting as the exclusive placement agent for the offering. The gross proceeds to the Company from this offering are expected to be $2,250,000, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.