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Highlights
- Ynvisible Interactive Inc. is focused on advancing its presence in the printed electronics sector.
- The company is offering shares in a non-brokered private placement to raise funds for general corporate use.
- The transaction is subject to regulatory approval and a statutory hold period for issued securities.
Ynvisible Interactive Inc. (TSXV:YNV) operates in the printed electronics sector, which focuses on the development and integration of low-cost, energy-efficient display technologies. The company is known for its work in designing interactive and flexible displays that are used in various applications, including retail, logistics, and health monitoring. Ynvisible is positioning itself as a key player in this evolving market.
Non-Brokered Private Placement for Working Capital
Ynvisible Interactive Inc. recently announced a non-brokered private placement, offering shares at a set price per share. The capital raised through this offering will be allocated for working capital and general corporate purposes. This move aligns with the company’s goal of expanding its technological capabilities and operational reach in the printed electronics market.
Regulatory Conditions and Statutory Hold Period
As part of the private placement process, the company must adhere to regulatory conditions, including acceptance by the TSX Venture Exchange. Additionally, securities issued through this offering will be subject to a statutory hold period, meaning that they cannot be traded immediately after issuance. This period typically lasts four months and one day from the date of closing, ensuring that the transaction complies with applicable Canadian securities regulations.
Insider Participation and Multilateral Instrument Exemptions
The private placement may involve insiders of the company, which qualifies the transaction as a "related party transaction." In accordance with Canadian regulations, specifically under Multilateral Instrument 61-101 (MI 61-101), Ynvisible will utilize exemptions from the valuation and minority shareholder approval requirements. This decision is based on the fact that the total value of the securities purchased by insiders will not exceed a specific percentage of the company’s market capitalization.
Regulations Regarding U.S. Securities
Ynvisible Interactive Inc. clarified that the securities offered in this private placement will not be registered under the U.S. Securities Act of 1933. Consequently, these shares cannot be sold or offered in the United States unless they comply with the registration requirements of U.S. securities laws or qualify for exemptions. This legal provision ensures that the company adheres to both Canadian and U.S. securities regulations.
