FingerMotion enters $25M at-the-market equity distribution agreement with Univest Securities

FingerMotion, Inc.

Up to $25M of common stock may be sold through Univest Securities as sales agent.
Commission of 2.25% of gross proceeds; reimbursement of legal expenses up to $125,000.
Sales only after SEC declares shelf registration statement (Form S-3) effective.
Agreement terminates on earlier of sale of all shares, Sept 11, 2025, or termination.
Company has customary indemnification and can terminate with 30 days' notice.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

FingerMotion, Inc. entered into Sales Agreement with Univest Securities, LLC valued at up to $25,000,000 (effective 2023-09-11).

Action: entry
Agreement: atm program
Counterparty: Univest Securities, LLC
Value: up to $25,000,000
Effective: 2023-09-11

Exact text from the filing

On September 11, 2023, FingerMotion, Inc. (the “ Company ”) entered into an At-The-Market Issuance Sales Agreement (the “ Sales Agreement ”) with Univest Securities, LLC (the “ Sales Agent ”) under which the Company may, when the shelf Registration Statement on Form S-3 (File No. 333-274456) (the “ Registration Statement ”) which includes a base prospectus and an at-the-market offering agreement prospectus filed by the Company on September 11, 2023 is declared effective by the Securities and Exchange Commission (the “ SEC ”), issue and sell from time to time, shares of its common stock, par value $0.0001 per share (the “ Shares ”), having an aggregate offering price of not more than $25,000,000 through the Sales Agent or any of its sub-agent(s) or other designees, acting as sales agent.

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FingerMotion, Inc. filing history →

Source: SEC EDGAR

accession 0001520138-23-000387

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