Versus Systems Announces Closing of $7.0 Million Public Offering
February 28 2022 - 5:30PM
Versus Systems Inc. (“Versus” or the “Company”) (NASDAQ: VS) today
announced that it closed its previously announced public offering
of 4,375,000 units. Each unit consists of one common
share, no par value per share, and one warrant to purchase one
common share. The offering was priced at USD $1.60 per unit with a
warrant exercise price of USD $1.92, for gross proceeds of USD
$7,000,000, before deducting underwriting discounts and commissions
and other offering expenses payable by Versus. Further,
the underwriters have partially exercised their option to purchase
an additional 590,625 warrants at a purchase price of USD $0.0001
per warrant, before deducting underwriting discounts and
commissions.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission
(“SEC”) on February 2, 2022. 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 have
been made in accordance with the registration requirements of the
Securities Act of 1933, as amended.
D.A. Davidson & Co. and H.C. Wainwright & Co., LLC acted
as joint book-running managers for this offering and as
representatives of the underwriters in this offering.
This offering was made only by means of a prospectus. A copy of
the final prospectus relating to this offering was filed with the
SEC on February 24, 2022 and may also be obtained from the offices
of 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) 856-5711 or by e-mail:
placements@hcwco.com. These documents may also be obtained free of
charge by visiting EDGAR on the SEC website at www.sec.gov.
The Company intends to use the net proceeds from the offering
for working capital and general corporate purposes.
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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