VERSES AI prices public offering at US$6.946 per unit

VERSES AI Inc. (OTCQB: VRSSD) announced the pricing of its public offering of 1,007,764 units at US$6.946 per unit, generating gross proceeds of US$7,000,331 before deducting commissions and expenses.

Each unit consists of one Class A subordinate voting share and one-half of one share purchase warrant. The warrants will be exercisable at US$8.409 per share for 36 months from the date of issuance.

A.G.P. Canada Investments ULC serves as lead agent for the offering, with A.G.P./Alliance Global Partners acting as U.S. agent. The company filed a preliminary prospectus supplement to its base shelf prospectus from September 26, 2024, and plans to file a final prospectus supplement.

The offering remains subject to market conditions and regulatory approvals, including approval from Cboe Canada Inc. The company stated it will use net proceeds to strengthen its financial position and finance ongoing operations, including research and development expenses and general corporate purposes.

The Vancouver-based company describes itself as a cognitive computing company building intelligent software systems. The offering is part of the company's registration statement on Form F-10, which the SEC declared effective on October 1, 2024.

The announcement was made according to a press release from the company.

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