Versus Systems Announces Pricing of its Public Offering
February 24 2022 - 8:30AM
Versus Systems Inc. (“Versus” or the “Company”) (NASDAQ: VS) today
announced the pricing of its public offering of 4,375,000 units for
gross proceeds of USD $7,000,000, before deducting underwriting
discounts and commissions and other offering expenses payable by
Versus. Each unit consists of one common share, no par value per
share, and one warrant to purchase one common share, at a public
offering price of $1.60 per unit and a warrant exercise price of
$1.92. All of the shares and warrants included in this offering are
being sold by Versus. In addition, Versus has granted the
underwriters a 30-day option to purchase up to an additional
656,250 common shares and/or 656,250 additional warrants at the
public offering price, in any combination thereof, on the same
terms as the other common shares and warrants being purchased by
the underwriters from Versus. The offering is subject to customary
closing conditions and is expected to close on February 28, 2022.
The Company intends to use the net proceeds from the offering
for working capital and general corporate purposes.
D.A. Davidson & Co. and H.C. Wainwright & Co., LLC are
acting as joint book-running managers for this offering and as
representatives of the underwriters in this offering.
A registration statement relating to the securities being sold
in the offering was declared effective by the Securities and
Exchange Commission (“SEC”) on February 2, 2022 (Registration No.
333-261423). This offering is being made only by means of a
prospectus. Copies of the final prospectus relating to this
offering may be obtained, when available, by visiting EDGAR on the
SEC website at www.sec.gov or, alternatively, from: D.A. Davidson
& Co., Attention: Syndicate Department, 8 Third Street North,
Great Falls, MT 59401, by telephone at (800) 332-5915 and by
e-mail: ProspectusRequest@dadco.com; or H.C. Wainwright & Co.,
LLC, 430 Park Avenue 3rd Floor, New York, NY 10022, by telephone at
(212) 356-0500 and by e-mail: placements@hcwco.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. Any offers, solicitations or offers to buy,
or any sales of securities will be made in accordance with the
registration requirements of the Securities Act of 1933, as
amended.
About Versus Systems
Versus Systems Inc. is an engagement and rewards company that
makes live events, games, shows, and apps more fun to watch and
play. Versus adds interactive games, polling, trivia, predictive
elements, and other win conditions to existing entertainment -
whether in-venue or online - making the content more contextual,
personal, and rewarding. Versus works with world class sports
teams, leagues, venues, entertainment companies, and other content
creators to make engaging, rewarding experiences for fans all over
the world. For more information, please visit
www.versussystems.com or visit the official
Versus Systems YouTube channel.
Investor Contact:Cody Slach and Sophie
PearsonGateway Investor
Relations949-574-3860IR@versussystems.comorpress@versussystems.com
Disclaimer for Forward-Looking
Information
This news release contains certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical fact, are forward looking statements
and are based on expectations, estimates and projections as at the
date of this news release. Any statement that involves discussions
with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions, future events or performance
(often but not always using phrases such as "expects", or "does not
expect", "is expected", "anticipates" or "does not anticipate",
"plans", "budget", "scheduled", "forecasts", "estimates",
"believes" or "intends" or variations of such words and phrases or
stating that certain actions, events or results "may" or "could",
"would", "might" or "will" be taken to occur or be achieved) are
not statements of historical fact and may be forward looking
statements. These forward-looking statements are based on
reasonable assumptions and estimates of management of the Company
at the time such statements were made. Actual future results may
differ materially as forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to
materially differ from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Although the forward-looking statements contained in
this news release are based upon what management of the Company
believes, or believed at the time, to be reasonable assumptions,
the Company cannot assure shareholders that actual results will be
consistent with such forward-looking statements, as there may be
other factors that cause results not to be as anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on forward-looking statements and information. There can
be no assurance that forward-looking information, or the material
factors or assumptions used to develop such forward-looking
information, will prove to be accurate. The Company does not
undertake any obligations to release publicly any revisions for
updating any voluntary forward-looking statements, except as
required by applicable law.
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