E AUTOMOTIVE INC. closes C$135.7 million initial public offering

Provided By CNW

Last update: Nov 10, 2021

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

TORONTO, Nov. 10, 2021 /CNW/ - E Automotive Inc. d/b/a E Inc. ("E Inc." or the "Company") (TSX: EINC), which goes to market under the brands EBlock and EDealer, announced today the successful closing of its previously-announced initial public offering (the "Offering") of 5,900,000 common shares at a price of C$23.00 per share for gross proceeds of C$135,700,000. The Offering was upsized from an initial size of C$125,000,000 as a result of excess demand.