LQR House prices IPO at $5.00/share, closes for aggregate $5.75M gross proceeds

LQR House Inc.

IPO of 1,150,000 common shares including full over-allotment at $5.00/share; net proceeds ~$4.73M.
Underwriters exercised over-allotment option in full for 150,000 additional shares.
Stock began trading on Nasdaq under 'LQR' on August 10, 2023.
Proceeds to fund acquisitions, marketing of existing brands like SWOL, working capital, executive comp.
Underwriter EF Hutton received five-year warrants for 57,500 shares at $5.00 exercise price.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LQR House Inc. entered into Underwriting Agreement with EF Hutton, division of Benchmark Investments, LLC, as representative of the underwriters valued at $5,750,000.00 aggregate gross proceeds (effective 2023-08-09).

Action: entry
Agreement: underwriting
Counterparty: EF Hutton, division of Benchmark Investments, LLC, as representative of the underwriters
Value: $5,750,000.00 aggregate gross proceeds
Effective: 2023-08-09

Exact text from the filing

On August 9, 2023, LQR House Inc., a Nevada corporation (the “Company”), entered into an underwriting agreement (the “Underwriting Agreement”) with EF Hutton, division of Benchmark Investments, LLC, as representative of the underwriters named on Schedule 1 thereto (the “Representative”), relating to the Company’s initial public offering (the “Offering”) of 1,150,000 shares (the “Shares”) of the Company’s common stock, $0.0001 par value per share (“Common Stock”), which included the exercise by the underwriters in full of the over-allotment option to purchase an additional 150,000 shares of the Company’s Common Stock, at an Offering price of $5.00 per share.

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LQR House Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-066290

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