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KITS Eyecare Details Exercise of Over-Allotment Option in Connection with Initial Public Offering

· 02/05/2021 04:34

09:34 AM EST, 02/05/2021 (MT Newswires) -- KITS Eyecare Ltd. (KITS.TO) on Friday said it has partially exercised its over-allotment option related to its initial public offering.

The Vancouver-based ecommerce company said Canaccord Genuity Corp. and other agents of the IPO sold an additional 485,294 common shares of its TSX-traded stock for $8.50 apiece. KITS said it did not realize any proceeds from the sale, which generated $4,124,999 for the company's principal shareholders, including 0999849 B.C. Ltd., Sabrina Liak and Joseph Thompson.

Other agents involved in the IPO included CIBC World Markets Inc., Scotia Capital Inc., Roth Canada, ULC, Haywood Securities Inc. and Stifel Nicolaus Canada Inc.

The stock started trading on the TSX on Jan 22 at $8.39 per share and has since traded within a range of $7.55 to $10.20.

Price: 8.39, Change: -0.20, Percent Change: -2.33