Mogo Raises $54M Via Equity For Coinsquare Acquisition

• Mogo Inc. (NASDAQ: MOGO) priced 5.34 million shares at $10.10 per share to raise $54 million in a secondary offering.

• The offer price signifies a 6.2% discount to the Friday closing price of $10.77.

• The offering proceeds will be partly used to fund the cash component of Coinsquare acquisition and the remaining for general corporate and working capital purposes.

• The company has also issued unregistered warrants to purchase up to 2.67 million shares at an exercise price of $11 per share in a concurrent private placement.

• Mogo posted a robust bitcoin transaction volume in January. The share prices have climbed 399% in the last quarter.

• The offering is expected to close by February 24, 2021.

• H.C. Wainwright & Co. is the placement agent for the offering.

• Price action: MOGO shares are down 12.1% at $9.47 in the pre-market session on the last check Monday.

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