LQR House closes $11M public offering of 157.1M shares at $0.07/share

LQR House Inc.

Offered 157,142,857 shares at $0.07/share; gross proceeds $11M; closed Nov 13, 2023.
Net proceeds ~$10.12M after underwriting discounts and expenses.
Underwriters received 5-year warrants for 7,857,143 shares at $0.07 exercise price.
Proceeds allocated to brand acquisitions, marketing (incl. SWOL), executive compensation, and working capital.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

LQR House Inc. entered into Underwriting Agreement with EF Hutton, division of Benchmark Investments, LLC valued at Firm commitment underwriting of 157,142,857 shares of common stock at $0.07 per share; aggregate gro (effective 2023-11-09).

Action: entry
Agreement: underwriting
Counterparty: EF Hutton, division of Benchmark Investments, LLC
Value: Firm commitment underwriting of 157,142,857 shares of common stock at $0.07 per share; aggregate gro
Effective: 2023-11-09

Exact text from the filing

On November 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 public offering (the “Offering”) of 157,142,857 shares (the “Shares”) of the Company’s common stock, $0.0001 par value per share (the “Common Stock”), at an Offering price of $0.07 per share.

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LQR House Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-086122

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