MLT Aikins was pleased to represent the agents in connection with the public offering of 71,429,000 units of clean-tech company Exro Technologies Inc. (Exro) at a price per unit of $0.35 for aggregate gross proceeds of $25 million.
Calgary-based Exro provides proprietary motor-control and complete electric propulsion system technology for e-mobility.
The MLT Aikins deal team was led by partners Mahdi Shams and Kevin Sorochan, with support from associates Steven X. Meng and Jesse Hines. The four lawyers are based out of the firm’s Vancouver office.
The syndicate of agents included Stifel Nicolaus Canada Inc. as lead agent, as well as Canaccord Genuity Corp., Roth Canada Inc., A.G.P. Canada Investments ULC, ATB Capital Markets Inc. and National Bank Financial Inc.
Exro Technologies Inc. (TSX: EXRO, OTCQB: EXROF) is a leading clean technology company that has developed new-generation power control electronics. Its innovative suite of solutions, including the Exro Coil Driver®, Exro Cell Driver® and SEA-Drive®, expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results.