VERSES AI plans public offering of securities

VERSES AI Inc. (CBOE: VERS) (OTCQB: VRSSD) announced Monday its intention to conduct a public offering of securities through an agency arrangement on a reasonable best-efforts basis.

The Vancouver-based cognitive computing company said the offering will be priced based on market conditions, with final terms including the specific securities to be offered determined at the time of pricing. The company noted there is no assurance regarding whether or when the offering may be completed or its actual size and terms.

A.G.P. Canada Investments ULC will serve as lead agent for the offering, while A.G.P./Alliance Global Partners will act as U.S. agent. The closing remains subject to market conditions and regulatory approvals, including approval from Cboe Canada Inc.

VERSES plans to file a preliminary prospectus supplement and subsequent final prospectus supplement to its short form base shelf prospectus that was receipted on September 26, 2024. The supplements will be filed in Canadian provinces and territories excluding Quebec, and with the U.S. Securities and Exchange Commission as part of the company's registration statement on Form F-10.

The base shelf prospectus is accessible on SEDAR+ and the SEC's EDGAR system. The company's registration statement was declared effective by the SEC on October 1, 2024.

VERSES describes itself as a cognitive computing company that builds intelligent software systems modeled after natural processes. The announcement included standard disclaimers noting that the release does not constitute an offer to sell securities and that forward-looking statements involve risks and uncertainties.

You May Also Be Interested In