Mogo: Down on discounted offer pricing

Orion Digital

22/02/2021 12:08

** U.S.-listed shares of fintech co  MOGO.O  down 10.39% at
$9.65 premarket
    ** Co to sell 5.35 mln common shares at $10.10 each in a
registered direct offering, representing a 25.35% discount to
stock's last close  urn:newsml:reuters.com:*:nBwb4xHKya 
    ** Co expects to garner ~$54 mln in gross proceeds from the
offering that is expected to close around Feb. 24
    ** Co has also agreed to issue unregistered warrants to
investors to purchase an aggregate of up to 2,673,268 common
shares
    ** H.C. Wainwright & Co. is acting as the exclusive
placement agent for the offering
    ** Up to last close, stock nearly doubled YTD

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))